https://www.taxtmi.com/caselaws?id=417365 The Tribunal held that the Assessing Officer (AO) lacked jurisdiction to reopen the original assessment beyond the four-year period under Section 147 of the Income Tax Act. The AO failed to specify that the income escaped assessment due to the assessee's failure to disclose all material facts, as required by the first proviso to Section 147. Consequently, the notice issued under Section 148 and all subsequent actions were quashed, and the appeal of the assessee was allowed. en-us Wed, 05 Jan 2022 00:00:00 +0530 Fri, 21 Jan 2022 08:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417365 The Tribunal held that the Assessing Officer (AO) lacked jurisdiction to reopen the original assessment beyond the four-year period under Section 147 of the Income Tax Act. The AO failed to specify that the income escaped assessment due to the assessee's failure to disclose all material facts, as required by the first proviso to Section 147. Consequently, the notice issued under Section 148 and all subsequent actions were quashed, and the appeal of the assessee was allowed. Case-Laws Income Tax Wed, 05 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417365