https://www.taxtmi.com/caselaws?id=119115 The Tribunal upheld the CIT(A)'s decision that the reassessment proceedings under section 143(3) read with section 147 for the assessment year 1996-97 were time-barred and not validly initiated. It found no failure on the part of the assessee to disclose necessary facts, as required by the proviso to section 147. The Tribunal emphasized the importance of timely initiation and full disclosure of material facts, ultimately dismissing the revenue's appeal. en-us Wed, 02 Feb 2005 00:00:00 +0530 Mon, 09 Jul 2012 11:19:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119115 The Tribunal upheld the CIT(A)'s decision that the reassessment proceedings under section 143(3) read with section 147 for the assessment year 1996-97 were time-barred and not validly initiated. It found no failure on the part of the assessee to disclose necessary facts, as required by the proviso to section 147. The Tribunal emphasized the importance of timely initiation and full disclosure of material facts, ultimately dismissing the revenue's appeal. Case-Laws Income Tax Wed, 02 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119115