https://www.taxtmi.com/caselaws?id=234803 The ITAT Hyderabad quashed the reassessment initiated by the Assessing Officer after four years, emphasizing the absence of new material indicating income escapement and considering it a change of opinion. The Tribunal highlighted the importance of full disclosure of material facts by the assessee during the original assessment, citing relevant legal precedents to support its decision. The appeal was allowed in favor of the assessee, and the reassessment was deemed invalid. en-us Fri, 21 Jun 2013 00:00:00 +0530 Fri, 28 Jun 2013 05:30:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234803 The ITAT Hyderabad quashed the reassessment initiated by the Assessing Officer after four years, emphasizing the absence of new material indicating income escapement and considering it a change of opinion. The Tribunal highlighted the importance of full disclosure of material facts by the assessee during the original assessment, citing relevant legal precedents to support its decision. The appeal was allowed in favor of the assessee, and the reassessment was deemed invalid. Case-Laws Income Tax Fri, 21 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234803