https://www.taxtmi.com/caselaws?id=344918 The Tribunal allowed both appeals filed by the assessee, condoning the delay in filing the appeal, quashing the reassessment order due to invalid reopening, and setting aside the penalty order. The judgment emphasized the importance of a bona fide explanation for delays and the necessity for the AO to clearly state any failure by the assessee to disclose material facts when reopening assessments after four years. en-us Tue, 31 Jan 2017 00:00:00 +0530 Sat, 01 Jul 2017 18:35:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344918 The Tribunal allowed both appeals filed by the assessee, condoning the delay in filing the appeal, quashing the reassessment order due to invalid reopening, and setting aside the penalty order. The judgment emphasized the importance of a bona fide explanation for delays and the necessity for the AO to clearly state any failure by the assessee to disclose material facts when reopening assessments after four years. Case-Laws Income Tax Tue, 31 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344918