https://www.taxtmi.com/caselaws?id=221563 The court quashed the notices and proceedings challenging the reopening of concluded assessments under Section 147 of the Income Tax Act, 1961. Emphasizing the necessity of full and true disclosure of material facts for assessment, the court found impermissible the revenue's attempt to change its opinion beyond four years without new material. The court aligned with a previous judgment, concluding that the proposed reopening lacked valid reasons and identical material facts, ultimately allowing the writ petitions and rejecting the grossing up issue in the assessments. en-us Thu, 07 Mar 2013 00:00:00 +0530 Fri, 31 Jan 2014 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221563 The court quashed the notices and proceedings challenging the reopening of concluded assessments under Section 147 of the Income Tax Act, 1961. Emphasizing the necessity of full and true disclosure of material facts for assessment, the court found impermissible the revenue's attempt to change its opinion beyond four years without new material. The court aligned with a previous judgment, concluding that the proposed reopening lacked valid reasons and identical material facts, ultimately allowing the writ petitions and rejecting the grossing up issue in the assessments. Case-Laws Income Tax Thu, 07 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221563