https://www.taxtmi.com/caselaws?id=235387 The court dismissed the appeal, emphasizing that the reassessment order was barred by the law of limitation. The decisions made by the lower authorities were upheld as the reassessment proceedings were initiated beyond the four-year limit, rendering them invalid. The court ruled in favor of the assessee regarding the disallowance of the long-term capital loss, stating that there was no failure to disclose material facts during the original assessment, thereby making the reassessment beyond the limitation period impermissible. en-us Tue, 09 Apr 2013 00:00:00 +0530 Mon, 22 Jul 2013 09:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235387 The court dismissed the appeal, emphasizing that the reassessment order was barred by the law of limitation. The decisions made by the lower authorities were upheld as the reassessment proceedings were initiated beyond the four-year limit, rendering them invalid. The court ruled in favor of the assessee regarding the disallowance of the long-term capital loss, stating that there was no failure to disclose material facts during the original assessment, thereby making the reassessment beyond the limitation period impermissible. Case-Laws Income Tax Tue, 09 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235387