Opinion of Income Tax Dept not Tangible Material for Reopening Assessment: Calcutta HC quashes Reassessment [Read Order]

Personal opinion of the Assessing Officer not to considered as tangible source for reopening assessment under the Income Tax Act, 1961
Calcutta HC - Reopening Assessment - Tangible Material - taxscan

The Calcutta High Court quashed reassessment proceedings and observed that the opinion of Income Tax Department not tangible material for reopening assessment. The appellant, Dinesh Kumar Goyal HUF, had challenged the order passed under Section 148A(d) of the Income Tax Act dated 4th August, 2023 for the assessment year 2017-18. The Single Bench has dismissed…

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