https://www.taxtmi.com/caselaws?id=421051 The reassessment proceedings for the assessment year 2007-2008 were deemed invalid as they violated the first proviso to Section 147 by exceeding the four-year time limit without alleging failure to disclose material facts. Additionally, the reassessment was based on a change of opinion without new tangible material, leading to its quashing. The lack of compliance with statutory provisions and reliance on original assessment information rendered the proceedings and subsequent orders invalid. Consequently, the appeal was partly allowed due to these legal grounds. en-us Thu, 31 Mar 2022 00:00:00 +0530 Sat, 16 Apr 2022 08:11:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421051 The reassessment proceedings for the assessment year 2007-2008 were deemed invalid as they violated the first proviso to Section 147 by exceeding the four-year time limit without alleging failure to disclose material facts. Additionally, the reassessment was based on a change of opinion without new tangible material, leading to its quashing. The lack of compliance with statutory provisions and reliance on original assessment information rendered the proceedings and subsequent orders invalid. Consequently, the appeal was partly allowed due to these legal grounds. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421051