https://www.taxtmi.com/caselaws?id=221697 The Tribunal upheld the CIT(A)'s order and dismissed the Revenue's appeal regarding the reopening of assessment under Section 147/148 for AY 2004-05. It was determined that there was no failure on the part of the assessee to disclose material facts necessary for assessment, as required by the Proviso to Section 147. The decision emphasized that reassessment beyond four years necessitates the assessee's failure to disclose crucial information, as established by legal precedent, thus affirming the importance of compliance with statutory provisions and judicial decisions in assessment matters. en-us Fri, 15 Feb 2013 00:00:00 +0530 Mon, 25 Mar 2013 10:01:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221697 The Tribunal upheld the CIT(A)'s order and dismissed the Revenue's appeal regarding the reopening of assessment under Section 147/148 for AY 2004-05. It was determined that there was no failure on the part of the assessee to disclose material facts necessary for assessment, as required by the Proviso to Section 147. The decision emphasized that reassessment beyond four years necessitates the assessee's failure to disclose crucial information, as established by legal precedent, thus affirming the importance of compliance with statutory provisions and judicial decisions in assessment matters. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221697