https://www.taxtmi.com/caselaws?id=208469 The court dismissed the petition challenging the reopening of the assessment for Assessment Year 2004-05. It held that the Assessing Officer had valid reasons to believe income had escaped assessment due to discrepancies in depreciation claims and purchase of assets, particularly the Effluent Treatment Plant system. Emphasizing the necessity of disclosing all material facts, the court upheld the reopening based on tangible grounds from the subsequent assessment. The judgment stressed adherence to legal procedures and full disclosure in assessments, without delving into the merits of the issues raised. en-us Thu, 20 Oct 2011 00:00:00 +0530 Tue, 15 May 2012 16:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208469 The court dismissed the petition challenging the reopening of the assessment for Assessment Year 2004-05. It held that the Assessing Officer had valid reasons to believe income had escaped assessment due to discrepancies in depreciation claims and purchase of assets, particularly the Effluent Treatment Plant system. Emphasizing the necessity of disclosing all material facts, the court upheld the reopening based on tangible grounds from the subsequent assessment. The judgment stressed adherence to legal procedures and full disclosure in assessments, without delving into the merits of the issues raised. Case-Laws Income Tax Thu, 20 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208469