https://www.taxtmi.com/caselaws?id=418234 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to quash the re-assessment proceedings as the Assessing Officer failed to show any failure by the assessee to fully disclose material facts during the original assessment, as required by law. The Tribunal emphasized the necessity of explicitly recording such failures in the reasons for reopening, citing relevant case law. Consequently, the Revenue's appeal was dismissed, and the cross objections raised by the assessee were also dismissed as infructuous. en-us Mon, 31 Jan 2022 00:00:00 +0530 Fri, 11 Feb 2022 07:22:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418234 The Tribunal upheld the Commissioner of Income Tax (Appeals) decision to quash the re-assessment proceedings as the Assessing Officer failed to show any failure by the assessee to fully disclose material facts during the original assessment, as required by law. The Tribunal emphasized the necessity of explicitly recording such failures in the reasons for reopening, citing relevant case law. Consequently, the Revenue's appeal was dismissed, and the cross objections raised by the assessee were also dismissed as infructuous. Case-Laws Income Tax Mon, 31 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418234