https://www.taxtmi.com/caselaws?id=181461 Reassessment beyond four years cannot rest on a mere change of opinion where the original assessment had already examined the relevant receipts, treaty position, and taxability issues. In the absence of new factual material, a later reassessment based only on a different inference from the same disclosed facts is invalid. The assessee's duty is to disclose primary material facts, not the legal conclusion to be drawn from them. Where the record shows full disclosure and consideration of those facts in the original proceedings, the proviso to Section 147 is not satisfied and reopening is not justified. The reassessment notice and rejection of objections were quashed. en-us Tue, 15 May 2012 00:00:00 +0530 Mon, 19 Jun 2017 18:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181461 Reassessment beyond four years cannot rest on a mere change of opinion where the original assessment had already examined the relevant receipts, treaty position, and taxability issues. In the absence of new factual material, a later reassessment based only on a different inference from the same disclosed facts is invalid. The assessee's duty is to disclose primary material facts, not the legal conclusion to be drawn from them. Where the record shows full disclosure and consideration of those facts in the original proceedings, the proviso to Section 147 is not satisfied and reopening is not justified. The reassessment notice and rejection of objections were quashed. Case-Laws Income Tax Tue, 15 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181461