https://www.taxtmi.com/caselaws?id=209761 The court quashed the notice issued under Section 148 of the Income Tax Act for reopening the assessment for Assessment Year 2004-05 as it was beyond the permissible four-year period. The court found that the reasons provided for reopening did not meet the requirement of failure to disclose all material facts. The retrospective amendment of the law by Parliament was highlighted, indicating that mere income escape due to amended provisions does not justify reopening beyond the four-year limit. The court ruled in favor of the petitioner, leading to the quashing of the notice without awarding costs. en-us Tue, 24 Jan 2012 00:00:00 +0530 Tue, 29 May 2012 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209761 The court quashed the notice issued under Section 148 of the Income Tax Act for reopening the assessment for Assessment Year 2004-05 as it was beyond the permissible four-year period. The court found that the reasons provided for reopening did not meet the requirement of failure to disclose all material facts. The retrospective amendment of the law by Parliament was highlighted, indicating that mere income escape due to amended provisions does not justify reopening beyond the four-year limit. The court ruled in favor of the petitioner, leading to the quashing of the notice without awarding costs. Case-Laws Income Tax Tue, 24 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209761