Reassessment of closing stock valuation deemed invalid due to four-year limit breach; full disclosure by assessee confirmed. https://www.taxtmi.com/highlights?id=24243 Reopening of assessment - Valuation of closing stock - there is no failure on the part of the assessee to disclose truly and fully all material facts - reassessment proceedings which are initiated beyond the period of four years, are not permissible and the same cannot be sustained - HC en-us Mon, 17 Aug 2015 12:15:41 +0530 Mon, 17 Aug 2015 12:15:41 +0530 TaxTMI RSS Generator Reassessment of closing stock valuation deemed invalid due to four-year limit breach; full disclosure by assessee confirmed. https://www.taxtmi.com/highlights?id=24243 Reopening of assessment - Valuation of closing stock - there is no failure on the part of the assessee to disclose truly and fully all material facts - reassessment proceedings which are initiated beyond the period of four years, are not permissible and the same cannot be sustained - HC Highlights Income Tax Mon, 17 Aug 2015 12:15:41 +0530 https://www.taxtmi.com/highlights?id=24243