https://www.taxtmi.com/caselaws?id=371974 The Appellate Tribunal dismissed the Revenue's appeal concerning the reopening and reassessment for the assessment year 2006-07 under sections 147, 251, and 143(3) of the Income Tax Act, 1961. The Tribunal upheld the CIT(A)'s decision, ruling that the reopening was invalid due to the Assessing Officer's failure to explicitly mention the taxpayer's failure to disclose all relevant facts fully and truly. The Tribunal emphasized the necessity of complying with legal requirements for reopening assessments and ensuring full and true disclosure of material facts by taxpayers. The impugned assessment was considered invalid and time-barred, leading to the dismissal of the Revenue's appeal on 12.10.2018. en-us Fri, 12 Oct 2018 00:00:00 +0530 Sat, 15 Dec 2018 09:58:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371974 The Appellate Tribunal dismissed the Revenue's appeal concerning the reopening and reassessment for the assessment year 2006-07 under sections 147, 251, and 143(3) of the Income Tax Act, 1961. The Tribunal upheld the CIT(A)'s decision, ruling that the reopening was invalid due to the Assessing Officer's failure to explicitly mention the taxpayer's failure to disclose all relevant facts fully and truly. The Tribunal emphasized the necessity of complying with legal requirements for reopening assessments and ensuring full and true disclosure of material facts by taxpayers. The impugned assessment was considered invalid and time-barred, leading to the dismissal of the Revenue's appeal on 12.10.2018. Case-Laws Income Tax Fri, 12 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371974