https://www.taxtmi.com/caselaws?id=239632 The Tribunal held that the reopening of the assessment after four years was not valid due to the lack of new tangible material and failure on the part of the assessee to disclose material facts. The method of accounting adopted by the assessee was consistently followed and accepted in previous assessments, and the reassessment on this issue was not sustainable. The non-admission of rental income was found to be contrary to the facts on record, and the reopening on this issue was also not permissible. Consequently, the appeal of the assessee was allowed, and the appeal of the revenue was dismissed. en-us Fri, 19 Apr 2013 00:00:00 +0530 Mon, 18 Nov 2013 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239632 The Tribunal held that the reopening of the assessment after four years was not valid due to the lack of new tangible material and failure on the part of the assessee to disclose material facts. The method of accounting adopted by the assessee was consistently followed and accepted in previous assessments, and the reassessment on this issue was not sustainable. The non-admission of rental income was found to be contrary to the facts on record, and the reopening on this issue was also not permissible. Consequently, the appeal of the assessee was allowed, and the appeal of the revenue was dismissed. Case-Laws Income Tax Fri, 19 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239632