https://www.taxtmi.com/caselaws?id=9336 Reassessment beyond four years requires material showing that the assessee failed to disclose fully and truly all material facts; a later valuation report obtained after the original assessment cannot, by itself, supply that jurisdictional basis. Such a report is only opinion evidence and does not conclusively establish undisclosed income or escapement unless supported by independent corroborative material. The article therefore states that reopening and additions based solely on the subsequent valuation report were not sustainable. en-us Fri, 05 Aug 2005 00:00:00 +0530 Mon, 22 Jun 2009 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9336 Reassessment beyond four years requires material showing that the assessee failed to disclose fully and truly all material facts; a later valuation report obtained after the original assessment cannot, by itself, supply that jurisdictional basis. Such a report is only opinion evidence and does not conclusively establish undisclosed income or escapement unless supported by independent corroborative material. The article therefore states that reopening and additions based solely on the subsequent valuation report were not sustainable. Case-Laws Income Tax Fri, 05 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9336