https://www.taxtmi.com/caselaws?id=410117 The court upheld the validity of the reopening proceedings under Section 147 of the Income Tax Act, 1961, beyond the four-year period. The court found that new tangible material gathered by the Assessing Officer justified the reopening, as it indicated that income had escaped assessment. The court emphasized that the petitioner had failed to fully and truly disclose material facts during the original assessment, and procedural requirements were met, including providing the petitioner with an opportunity to defend. Consequently, the court dismissed the writ petition challenging the reopening of assessment proceedings. en-us Fri, 02 Jul 2021 00:00:00 +0530 Thu, 28 Apr 2022 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410117 The court upheld the validity of the reopening proceedings under Section 147 of the Income Tax Act, 1961, beyond the four-year period. The court found that new tangible material gathered by the Assessing Officer justified the reopening, as it indicated that income had escaped assessment. The court emphasized that the petitioner had failed to fully and truly disclose material facts during the original assessment, and procedural requirements were met, including providing the petitioner with an opportunity to defend. Consequently, the court dismissed the writ petition challenging the reopening of assessment proceedings. Case-Laws Income Tax Fri, 02 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410117