https://www.taxtmi.com/caselaws?id=341021 The court held that the reopening of the assessment beyond the four-year period was not justified as there was no failure to disclose true and correct facts by the petitioner. The court quashed the notice under Section 148 and the reassessment proceedings, ruling in favor of the petitioner. The reasons for reopening were found to be based on a different assessment year and lacked the necessary subjective satisfaction of the Assessing Officer. The court concluded that the reopening was not in compliance with the proviso to Section 147 of the Income Tax Act. en-us Thu, 23 Mar 2017 00:00:00 +0530 Thu, 30 Mar 2017 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341021 The court held that the reopening of the assessment beyond the four-year period was not justified as there was no failure to disclose true and correct facts by the petitioner. The court quashed the notice under Section 148 and the reassessment proceedings, ruling in favor of the petitioner. The reasons for reopening were found to be based on a different assessment year and lacked the necessary subjective satisfaction of the Assessing Officer. The court concluded that the reopening was not in compliance with the proviso to Section 147 of the Income Tax Act. Case-Laws Income Tax Thu, 23 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341021