https://www.taxtmi.com/caselaws?id=269938 The Tribunal allowed the appeal, quashing the reassessment beyond the 4-year limit as there was no failure to disclose material facts. The Tribunal emphasized the importance of accurate income assessment and the Assessing Officer's satisfaction for valid reopening u/s.148. Issues like disallowance of royalty payment and reworking deduction u/s.80HHC were upheld due to underassessment of taxable income. The Tribunal supported the reassessment based on new issues not previously addressed, citing the absence of a change of opinion doctrine. en-us Fri, 06 Nov 2015 00:00:00 +0530 Thu, 24 Dec 2015 10:10:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269938 The Tribunal allowed the appeal, quashing the reassessment beyond the 4-year limit as there was no failure to disclose material facts. The Tribunal emphasized the importance of accurate income assessment and the Assessing Officer's satisfaction for valid reopening u/s.148. Issues like disallowance of royalty payment and reworking deduction u/s.80HHC were upheld due to underassessment of taxable income. The Tribunal supported the reassessment based on new issues not previously addressed, citing the absence of a change of opinion doctrine. Case-Laws Income Tax Fri, 06 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269938