https://www.taxtmi.com/caselaws?id=222068 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings under Section 147/148 as the assessee had not failed to disclose all material facts necessary for assessment, as evidenced by details provided during the original assessment. The court emphasized that for reassessment after four years, there must be a failure on the part of the assessee to disclose material facts necessary for assessment, not legal provisions. The Tribunal dismissed the Revenue's appeal based on legal interpretation and relevant case law, supporting the decision to quash the reassessment proceedings. en-us Fri, 15 Feb 2013 00:00:00 +0530 Fri, 12 Apr 2013 15:24:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=222068 The Tribunal upheld the CIT(A)'s decision to quash the reassessment proceedings under Section 147/148 as the assessee had not failed to disclose all material facts necessary for assessment, as evidenced by details provided during the original assessment. The court emphasized that for reassessment after four years, there must be a failure on the part of the assessee to disclose material facts necessary for assessment, not legal provisions. The Tribunal dismissed the Revenue's appeal based on legal interpretation and relevant case law, supporting the decision to quash the reassessment proceedings. Case-Laws Income Tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=222068