https://www.taxtmi.com/caselaws?id=215100 The Court ruled in favor of the petitioner, holding that the notice seeking to reopen the assessment for the assessment year 2001-02 was without jurisdiction. The Court emphasized the importance of full disclosure by the assessee and deemed the reopening impermissible as the reasons provided did not establish failure to disclose material facts. Additionally, the Court stated that the Assessing Officer could not reopen the assessment on previously settled issues without challenging higher authorities' decisions. The notice for reopening the assessment was quashed based on multiple grounds of lack of jurisdiction. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 24 Jul 2012 12:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215100 The Court ruled in favor of the petitioner, holding that the notice seeking to reopen the assessment for the assessment year 2001-02 was without jurisdiction. The Court emphasized the importance of full disclosure by the assessee and deemed the reopening impermissible as the reasons provided did not establish failure to disclose material facts. Additionally, the Court stated that the Assessing Officer could not reopen the assessment on previously settled issues without challenging higher authorities' decisions. The notice for reopening the assessment was quashed based on multiple grounds of lack of jurisdiction. Case-Laws Income Tax Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215100