Court Invalidates Assessment Reopening Beyond Time Limit

The Court held in favor of the petitioner, ruling that the notice of reopening assessment issued beyond the prescribed 4-year period was invalid. The Assessing Officer's reasons for reopening had been previously considered during the original assessment, and the petitioner had fully disclosed all relevant information. The Court granted an adjournment until January 25, 2019, and temporarily stayed the challenged notice.

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The petitioner challenged a notice of reopening of assessment issued beyond 4 years from the relevant assessment year. The Assessing Officer's grounds for reopening were already examined during the original scrutiny assessment. The petitioner had disclosed all material facts. The respondents requested time to file a reply. The case was adjourned to January 25, 2019, with the impugned notice stayed temporarily.

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