https://www.taxtmi.com/caselaws?id=384796 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal regarding the reopening of assessment for the assessment year 2007-08. It was found that the reassessment beyond the four-year period was not justified as it was based on a change of opinion by the Assessing Officer rather than any failure on the Assessee's part to disclose material facts. The Tribunal emphasized the strict adherence to the law in reopening assessments after the prescribed period, ruling that the reassessment lacked merit. en-us Fri, 12 Jul 2019 00:00:00 +0530 Fri, 23 Aug 2019 07:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384796 The Tribunal upheld the decision of the Commissioner of Income Tax (Appeals) and dismissed the Revenue's appeal regarding the reopening of assessment for the assessment year 2007-08. It was found that the reassessment beyond the four-year period was not justified as it was based on a change of opinion by the Assessing Officer rather than any failure on the Assessee's part to disclose material facts. The Tribunal emphasized the strict adherence to the law in reopening assessments after the prescribed period, ruling that the reassessment lacked merit. Case-Laws Income Tax Fri, 12 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384796