https://www.taxtmi.com/caselaws?id=283367 The High Court dismissed the appeal challenging the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court upheld the decision favoring the assessee, ruling that the reassessment proceedings initiated beyond the four-year period were time-barred. The Court emphasized the lack of justification for reopening the assessment, as the Assessing Officer failed to establish any omission by the assessee in disclosing material facts during the original assessment. Both the Tribunal and the Commissioner had previously ruled against the Revenue, leading to the dismissal of the appeal with no substantial legal questions identified. en-us Thu, 08 Feb 2018 00:00:00 +0530 Fri, 20 Sep 2019 12:46:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283367 The High Court dismissed the appeal challenging the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court upheld the decision favoring the assessee, ruling that the reassessment proceedings initiated beyond the four-year period were time-barred. The Court emphasized the lack of justification for reopening the assessment, as the Assessing Officer failed to establish any omission by the assessee in disclosing material facts during the original assessment. Both the Tribunal and the Commissioner had previously ruled against the Revenue, leading to the dismissal of the appeal with no substantial legal questions identified. Case-Laws Income Tax Thu, 08 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283367