Reassessment after four years requires tangible material and failure to disclose primary facts; reopening was invalid.

Reopening of a completed assessment after four years was invalid where the reassessment relied on the same sale deed and related materials already furnished during the original Section 143(3) proceedings. As no new tangible material was shown and the record did not establish any failure by the assessee to fully and truly disclose the primary facts, the statutory basis for reopening was absent. The reassessment could not be sustained and the original assessment remained undisturbed.

---

---

Issues: Whether the reassessment initiated after four years was valid in the absence of tangible material showing failure by the assessee to disclose fully and truly all material facts.

Analysis: The assessment had originally been completed under Section 143(3). The reassessment was based on the same sale deed and related materials that had already been furnished by the assessee, including copies of the deed and particulars relating to stamp duty. The record did not show any new tangible material or any omission by the assessee to disclose the primary facts necessary for the original assessment. On those facts, reopening could not be sustained.

Conclusion: The reopening of assessment was held to be unjustified and invalid.

Final Conclusion: The Revenue's challenge failed and the assessment reopening was set aside in effect, leaving the original assessment undisturbed.

Ratio Decidendi: Reassessment beyond the original assessment can be sustained only where there is tangible material and a failure by the assessee to fully and truly disclose material facts necessary for the assessment.

---