https://www.taxtmi.com/caselaws?id=190611 Reopening beyond four years is sustainable where the assessee has not fully and truly disclosed all material facts necessary for assessment; the record here showed post-amalgamation non-compete arrangements and a request for waiver of Rule 9C conditions, supporting validity of reassessment. Carry forward and set off of losses and unabsorbed depreciation of an amalgamating company under section 72A is available only if the statutory conditions, including continuation of business and the prescribed production requirements under Rule 9C, are satisfied; on the stated facts, that benefit was denied. The opening stock, depreciation working and subsidy items were treated as not supporting reassessment, as they matched prior-year figures or related to earlier years. en-us Fri, 16 Jul 2010 00:00:00 +0530 Sat, 12 Aug 2023 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=190611 Reopening beyond four years is sustainable where the assessee has not fully and truly disclosed all material facts necessary for assessment; the record here showed post-amalgamation non-compete arrangements and a request for waiver of Rule 9C conditions, supporting validity of reassessment. Carry forward and set off of losses and unabsorbed depreciation of an amalgamating company under section 72A is available only if the statutory conditions, including continuation of business and the prescribed production requirements under Rule 9C, are satisfied; on the stated facts, that benefit was denied. The opening stock, depreciation working and subsidy items were treated as not supporting reassessment, as they matched prior-year figures or related to earlier years. Case-Laws Income Tax Fri, 16 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=190611