https://www.taxtmi.com/caselaws?id=374828 The High Court quashed the notice of reopening of assessment as it was issued beyond the statutory period and lacked evidence of the petitioner's failure to disclose material facts. The Court highlighted that the Assessing Officer had thoroughly examined the transaction during scrutiny assessment and the limited disallowance indicated no failure in disclosure. Emphasizing the duty of the assessee to disclose primary facts, the Court ruled in favor of the petitioner, stating that it is the Assessing Officer's role to draw inferences in law. en-us Thu, 31 Jan 2019 00:00:00 +0530 Mon, 11 Feb 2019 08:18:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374828 The High Court quashed the notice of reopening of assessment as it was issued beyond the statutory period and lacked evidence of the petitioner's failure to disclose material facts. The Court highlighted that the Assessing Officer had thoroughly examined the transaction during scrutiny assessment and the limited disallowance indicated no failure in disclosure. Emphasizing the duty of the assessee to disclose primary facts, the Court ruled in favor of the petitioner, stating that it is the Assessing Officer's role to draw inferences in law. Case-Laws Income Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374828