https://www.taxtmi.com/caselaws?id=255963 The HC quashed reassessment proceedings initiated after four years from the relevant assessment year. The revenue sought to disallow Rs. 1,064,281 under Section 40(A) for non-compliance with Section 195 of the IT Act. The court held that the assessee made full and true disclosure of all material facts, and the reasons provided did not establish any failure to disclose material information. Since the jurisdictional requirement for reassessment beyond four years was not satisfied, the proceedings were invalid. The case was decided in favor of the assessee. en-us Mon, 13 Oct 2014 00:00:00 +0530 Sat, 31 May 2025 10:14:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255963 The HC quashed reassessment proceedings initiated after four years from the relevant assessment year. The revenue sought to disallow Rs. 1,064,281 under Section 40(A) for non-compliance with Section 195 of the IT Act. The court held that the assessee made full and true disclosure of all material facts, and the reasons provided did not establish any failure to disclose material information. Since the jurisdictional requirement for reassessment beyond four years was not satisfied, the proceedings were invalid. The case was decided in favor of the assessee. Case-Laws Income Tax Mon, 13 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255963