https://www.taxtmi.com/caselaws?id=342801 The court ruled in favor of the petitioner, quashing the notice under Section 148 and the reassessment proceedings. It held that the reopening of the assessment for A.Y. 2007-08 was illegal as the assessee had disclosed all necessary facts during the original assessment, making the reopening beyond the permissible period of four years contrary to Section 147 of the Income Tax Act, 1961. The court found the procedural requirements for reopening were not met and emphasized that there was no suppression of material facts by the assessee. The petition was allowed with no costs awarded. en-us Thu, 13 Apr 2017 00:00:00 +0530 Fri, 12 May 2017 07:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342801 The court ruled in favor of the petitioner, quashing the notice under Section 148 and the reassessment proceedings. It held that the reopening of the assessment for A.Y. 2007-08 was illegal as the assessee had disclosed all necessary facts during the original assessment, making the reopening beyond the permissible period of four years contrary to Section 147 of the Income Tax Act, 1961. The court found the procedural requirements for reopening were not met and emphasized that there was no suppression of material facts by the assessee. The petition was allowed with no costs awarded. Case-Laws Income Tax Thu, 13 Apr 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342801