https://www.taxtmi.com/caselaws?id=380478 The High Court upheld the Tribunal's decision regarding the validity of Re-assessment Proceedings beyond the four-year limitation period, emphasizing the necessity for the Assessee's failure to disclose relevant materials to invoke the extended limitation. The court reiterated that failure to specifically record such reasons vitiates the notice and proceedings. Additionally, the court agreed with the Tribunal that Re-assessment Proceedings initiated on a mere change of opinion, without new tangible material, were not justified. The court dismissed the Revenue's appeals, concluding that no substantial legal question arose in the case. en-us Mon, 15 Apr 2019 00:00:00 +0530 Wed, 22 May 2019 07:27:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380478 The High Court upheld the Tribunal's decision regarding the validity of Re-assessment Proceedings beyond the four-year limitation period, emphasizing the necessity for the Assessee's failure to disclose relevant materials to invoke the extended limitation. The court reiterated that failure to specifically record such reasons vitiates the notice and proceedings. Additionally, the court agreed with the Tribunal that Re-assessment Proceedings initiated on a mere change of opinion, without new tangible material, were not justified. The court dismissed the Revenue's appeals, concluding that no substantial legal question arose in the case. Case-Laws Income Tax Mon, 15 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380478