https://www.taxtmi.com/caselaws?id=212388 Reassessment after four years from an assessment completed under Section 143(3) requires failure by the assessee to fully and truly disclose material facts necessary for assessment. The attached return note disclosed the interest income, the taxable portion and the claimed Section 10A treatment, satisfying that condition. Recorded reasons and the reassessment basis did not establish any non-disclosure, while objections concerning the nexus of interest income with the Section 10A unit lacked merit. Reopening was therefore time-barred and legally invalid; the Tribunal's conclusion was affirmed and the appeals were dismissed. en-us Mon, 19 Sep 2011 00:00:00 +0530 Thu, 15 Mar 2012 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212388 Reassessment after four years from an assessment completed under Section 143(3) requires failure by the assessee to fully and truly disclose material facts necessary for assessment. The attached return note disclosed the interest income, the taxable portion and the claimed Section 10A treatment, satisfying that condition. Recorded reasons and the reassessment basis did not establish any non-disclosure, while objections concerning the nexus of interest income with the Section 10A unit lacked merit. Reopening was therefore time-barred and legally invalid; the Tribunal's conclusion was affirmed and the appeals were dismissed. Case-Laws Income Tax Mon, 19 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212388