SC Dismisses Revenue’s Appeal: Reopening Notice Invalid due to change of Opinion

ITO Vs Hemanshu Ramniklal Shah (Supreme Court of India) The Supreme Court of India recently dismissed a Special Leave Petition filed by the Income Tax Officer (ITO) against Hemanshu Ramniklal Shah, thereby upholding a decision by the Gujarat High Court. The case centered on the Income Tax Department’s attempt to reopen an assessment for the Assessment Year 2011-12, a move successfully challenged by the assessee in the Gujarat High Court. Read HC Judgment: Gujarat HC Quashes Income Tax Reopening Notice for Change of Opinion The Gujarat High Court, in its detailed judgment, had quashed th...