https://www.taxtmi.com/caselaws?id=291426 The High Court of Andhra Pradesh dismissed the Revenue's appeal challenging the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court emphasized the importance of substantial failure to disclose material facts and highlighted legal precedents supporting the assessee's position when all relevant details are disclosed. The decision serves as a reminder of the stringent requirements for reassessment and the need for clear justifications based on the law and facts of each case. en-us Wed, 13 Jul 2016 00:00:00 +0530 Tue, 10 Nov 2020 07:00:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291426 The High Court of Andhra Pradesh dismissed the Revenue's appeal challenging the reopening of assessment under Section 147 of the Income Tax Act, 1961. The Court emphasized the importance of substantial failure to disclose material facts and highlighted legal precedents supporting the assessee's position when all relevant details are disclosed. The decision serves as a reminder of the stringent requirements for reassessment and the need for clear justifications based on the law and facts of each case. Case-Laws Income Tax Wed, 13 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291426