https://www.taxtmi.com/caselaws?id=330070 Reassessment beyond four years was held unsustainable where the reopening relied on purchase details already on record and no fresh tangible material or failure to disclose fully and truly all material facts was shown, making it a change of opinion. The addition for alleged unaccounted purchases of colour chemicals also failed because the assessee's reconciliation explained the difference through recorded adjustments for CENVAT credit, discount, goods return, octroi and freight, and the Revenue produced no independent evidence of unaccounted purchases or unexplained investment. The assessee's relief was maintained. en-us Wed, 01 Jun 2016 00:00:00 +0530 Sat, 16 Jul 2016 12:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=330070 Reassessment beyond four years was held unsustainable where the reopening relied on purchase details already on record and no fresh tangible material or failure to disclose fully and truly all material facts was shown, making it a change of opinion. The addition for alleged unaccounted purchases of colour chemicals also failed because the assessee's reconciliation explained the difference through recorded adjustments for CENVAT credit, discount, goods return, octroi and freight, and the Revenue produced no independent evidence of unaccounted purchases or unexplained investment. The assessee's relief was maintained. Case-Laws Income Tax Wed, 01 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=330070