https://www.taxtmi.com/caselaws?id=379623 The court upheld the decision of the learned Single Judge who quashed the re-assessment notice and proceedings initiated against the Assessee for the Assessment Year 2003-04. It was found that the re-assessment notice was issued beyond the prescribed limitation period of four years and there was no failure on the part of the Assessee to fully and truly disclose all material facts necessary for assessment. The court emphasized that the re-assessment proceedings initiated after four years were without valid reason and based on a mere change of opinion, which is impermissible under the law. The appeal filed by the Revenue was dismissed. en-us Wed, 27 Mar 2019 00:00:00 +0530 Sat, 04 May 2019 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379623 The court upheld the decision of the learned Single Judge who quashed the re-assessment notice and proceedings initiated against the Assessee for the Assessment Year 2003-04. It was found that the re-assessment notice was issued beyond the prescribed limitation period of four years and there was no failure on the part of the Assessee to fully and truly disclose all material facts necessary for assessment. The court emphasized that the re-assessment proceedings initiated after four years were without valid reason and based on a mere change of opinion, which is impermissible under the law. The appeal filed by the Revenue was dismissed. Case-Laws Income Tax Wed, 27 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379623