https://www.taxtmi.com/caselaws?id=406267 The Tribunal held that the re-opening of assessment beyond four years under Section 147 of the Income Tax Act was invalid due to the absence of any failure to disclose material facts in the reasons for re-opening. The assessment was deemed legally unsustainable as it did not involve a change of opinion by the Assessing Officer and was based on the same material as the original assessment. Relying on legal precedents, the Tribunal quashed the assessment, emphasizing the necessity of adhering to statutory requirements for valid re-opening of assessments under Section 147. en-us Wed, 24 Mar 2021 00:00:00 +0530 Sat, 10 Apr 2021 09:02:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406267 The Tribunal held that the re-opening of assessment beyond four years under Section 147 of the Income Tax Act was invalid due to the absence of any failure to disclose material facts in the reasons for re-opening. The assessment was deemed legally unsustainable as it did not involve a change of opinion by the Assessing Officer and was based on the same material as the original assessment. Relying on legal precedents, the Tribunal quashed the assessment, emphasizing the necessity of adhering to statutory requirements for valid re-opening of assessments under Section 147. Case-Laws Income Tax Wed, 24 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406267