Reassessment based on financial notes previously scrutinized during the original assessment constitutes an impermissible change of opinion.
Reassessment based on financial notes previously scrutinized during the original assessment constitutes an impermissible change of opinion. Issue Whether the Assessing Officer can legally initiate reassessment proceedings under Section 148 to disallow foreign currency transaction losses and warranty provisions when both items were fully disclosed in the original financial notes, explicitly scrutinized via Section 142(1)… Read More »