https://www.taxtmi.com/caselaws?id=410126 The court dismissed the Writ Petition challenging the reopening of assessment beyond four years for the Assessment Year 2006-2007. It emphasized the importance of full and true disclosure by assessees and upheld the authority's power to reopen assessments if material facts are not fully disclosed, even if books of accounts were submitted. The court clarified that the High Court's role is to scrutinize the satisfaction of the mandatory condition of "reason to believe," leaving the sufficiency of reasons for the Assessing Officer to determine. en-us Fri, 16 Jul 2021 00:00:00 +0530 Sat, 24 Jul 2021 09:15:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=410126 The court dismissed the Writ Petition challenging the reopening of assessment beyond four years for the Assessment Year 2006-2007. It emphasized the importance of full and true disclosure by assessees and upheld the authority's power to reopen assessments if material facts are not fully disclosed, even if books of accounts were submitted. The court clarified that the High Court's role is to scrutinize the satisfaction of the mandatory condition of "reason to believe," leaving the sufficiency of reasons for the Assessing Officer to determine. Case-Laws Income Tax Fri, 16 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=410126