https://www.taxtmi.com/caselaws?id=421802 The court held that the reopening of assessment under section 148 of the Income Tax Act for the assessment year 2014-15 was not justified as there was no failure on the part of the petitioner to fully and truly disclose material facts. The court found that the reasons for reopening seemed to be based on a change of opinion rather than non-disclosure. As the petitioner had provided detailed responses and explanations during the original assessment, the court quashed the notice and subsequent order, emphasizing the importance of full and true disclosure of material facts to avoid arbitrary reopening of assessments. en-us Wed, 27 Apr 2022 00:00:00 +0530 Mon, 02 May 2022 08:44:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421802 The court held that the reopening of assessment under section 148 of the Income Tax Act for the assessment year 2014-15 was not justified as there was no failure on the part of the petitioner to fully and truly disclose material facts. The court found that the reasons for reopening seemed to be based on a change of opinion rather than non-disclosure. As the petitioner had provided detailed responses and explanations during the original assessment, the court quashed the notice and subsequent order, emphasizing the importance of full and true disclosure of material facts to avoid arbitrary reopening of assessments. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421802