https://www.taxtmi.com/caselaws?id=211639 The Court declared the reopening of assessment for AY 2004-05 beyond the four-year limit as invalid. It emphasized the necessity of the assessee failing to disclose material facts for a valid reassessment. The Assessing Officer's basis for reopening was deemed a change of opinion, not a failure to disclose necessary facts. The Court found that the reassessment solely relied on a perceived high melting loss, exceeding jurisdiction by not fulfilling necessary requirements. Consequently, the impugned notice, objection order, and assessment order were set aside, ruling in favor of the petitioner. en-us Wed, 14 Mar 2012 00:00:00 +0530 Thu, 28 Jul 2016 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211639 The Court declared the reopening of assessment for AY 2004-05 beyond the four-year limit as invalid. It emphasized the necessity of the assessee failing to disclose material facts for a valid reassessment. The Assessing Officer's basis for reopening was deemed a change of opinion, not a failure to disclose necessary facts. The Court found that the reassessment solely relied on a perceived high melting loss, exceeding jurisdiction by not fulfilling necessary requirements. Consequently, the impugned notice, objection order, and assessment order were set aside, ruling in favor of the petitioner. Case-Laws Income Tax Wed, 14 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211639