https://www.taxtmi.com/caselaws?id=13691 The HC dismissed the Revenue's appeals regarding the reopening of tax assessments for the years 1991-92 and 1992-93. The court upheld the Income-tax Appellate Tribunal's decision, which found that the reassessment was improperly initiated beyond the four-year limit without new material or a failure by the assessee to disclose facts. The court emphasized that reopening under section 148 requires such a failure, which was absent in this case. Consequently, the appeals were dismissed, affirming the Tribunal's order and incurring no substantial questions of law. en-us Mon, 18 Jun 2007 00:00:00 +0530 Fri, 09 Feb 2024 14:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13691 The HC dismissed the Revenue's appeals regarding the reopening of tax assessments for the years 1991-92 and 1992-93. The court upheld the Income-tax Appellate Tribunal's decision, which found that the reassessment was improperly initiated beyond the four-year limit without new material or a failure by the assessee to disclose facts. The court emphasized that reopening under section 148 requires such a failure, which was absent in this case. Consequently, the appeals were dismissed, affirming the Tribunal's order and incurring no substantial questions of law. Case-Laws Income Tax Mon, 18 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13691