https://www.taxtmi.com/caselaws?id=256765 The Gujarat High Court ruled in a case concerning the interpretation of the four-year limitation under section 147 of the Income Tax Act. The court held that unless there was a failure to disclose all material facts by the assessee, the assessing officer cannot reopen an assessment after the four-year period. As the petitioner had made full disclosure during the initial assessment, the court found the actions under section 147 and the subsequent notice under section 148 to be without jurisdiction. Consequently, the court quashed the impugned actions, emphasizing the importance of adhering to statutory provisions to ensure the legality of tax proceedings. en-us Wed, 21 Jan 2015 00:00:00 +0530 Sat, 21 Feb 2015 10:31:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256765 The Gujarat High Court ruled in a case concerning the interpretation of the four-year limitation under section 147 of the Income Tax Act. The court held that unless there was a failure to disclose all material facts by the assessee, the assessing officer cannot reopen an assessment after the four-year period. As the petitioner had made full disclosure during the initial assessment, the court found the actions under section 147 and the subsequent notice under section 148 to be without jurisdiction. Consequently, the court quashed the impugned actions, emphasizing the importance of adhering to statutory provisions to ensure the legality of tax proceedings. Case-Laws Income Tax Wed, 21 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256765