https://www.taxtmi.com/caselaws?id=408346 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, ruling that the reassessment proceedings initiated beyond the four-year limit were void ab initio. The Tribunal emphasized that reopening assessments without disclosing failure to disclose all material facts or solely based on a change of opinion is unjustified and invalid. The decision underscored the importance of adhering to statutory requirements for reopening assessments and highlighted that reassessments must be supported by new material to be considered valid. en-us Thu, 20 May 2021 00:00:00 +0530 Tue, 08 Jun 2021 10:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408346 The Tribunal dismissed the Revenue's appeal and upheld the CIT(A)'s decision, ruling that the reassessment proceedings initiated beyond the four-year limit were void ab initio. The Tribunal emphasized that reopening assessments without disclosing failure to disclose all material facts or solely based on a change of opinion is unjustified and invalid. The decision underscored the importance of adhering to statutory requirements for reopening assessments and highlighted that reassessments must be supported by new material to be considered valid. Case-Laws Income Tax Thu, 20 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408346