https://www.taxtmi.com/caselaws?id=3603 The Court upheld the Tribunal's decision to quash assessments under Sections 143(3) and 147 of the Income Tax Act, 1961, ruling in favor of the Assessee. The reassessment by the Assessing Officer based on subsequent information was deemed unjustified as the Assessee had disclosed all material facts during the original assessment. The Court emphasized that the proviso to Section 147 applies when there is non-disclosure by the Assessee, exempting them from further action. The reassessment beyond the four-year limitation and absence of deliberate concealment rendered it invalid, leading to the dismissal of the Revenue's appeals. en-us Wed, 02 Apr 2008 00:00:00 +0530 Wed, 12 Nov 2008 10:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3603 The Court upheld the Tribunal's decision to quash assessments under Sections 143(3) and 147 of the Income Tax Act, 1961, ruling in favor of the Assessee. The reassessment by the Assessing Officer based on subsequent information was deemed unjustified as the Assessee had disclosed all material facts during the original assessment. The Court emphasized that the proviso to Section 147 applies when there is non-disclosure by the Assessee, exempting them from further action. The reassessment beyond the four-year limitation and absence of deliberate concealment rendered it invalid, leading to the dismissal of the Revenue's appeals. Case-Laws Income Tax Wed, 02 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3603