https://www.taxtmi.com/caselaws?id=221770 The court upheld the Assessing Officer's jurisdiction to reopen the assessment for A.Y. 2005-06, as the assessee failed to fully disclose all material facts necessary for assessment, including a long term capital loss on the sale of shares. The court emphasized the importance of candid and accurate disclosure without any suppression of facts. The petition challenging the notice for reopening the assessment was dismissed, affirming the Assessing Officer's actions. en-us Thu, 14 Mar 2013 00:00:00 +0530 Fri, 29 Mar 2013 09:31:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221770 The court upheld the Assessing Officer's jurisdiction to reopen the assessment for A.Y. 2005-06, as the assessee failed to fully disclose all material facts necessary for assessment, including a long term capital loss on the sale of shares. The court emphasized the importance of candid and accurate disclosure without any suppression of facts. The petition challenging the notice for reopening the assessment was dismissed, affirming the Assessing Officer's actions. Case-Laws Income Tax Thu, 14 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221770