https://www.taxtmi.com/caselaws?id=433953 Reassessment beyond four years was held unsustainable because the recorded reasons did not specifically show that the assessee failed to fully and truly disclose material facts necessary for assessment, and the scrutiny record showed the relevant expenditure details had been furnished. Circular No. 5/2012 and the amended medical regulations, being introduced after assessment year 2008-09, could not supply tangible material for reopening that year's assessment. The reopening therefore lacked the jurisdictional basis required under section 147, and the reassessment notice and objection order were quashed in favour of the assessee. en-us Fri, 10 Feb 2023 00:00:00 +0530 Mon, 27 Nov 2023 10:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433953 Reassessment beyond four years was held unsustainable because the recorded reasons did not specifically show that the assessee failed to fully and truly disclose material facts necessary for assessment, and the scrutiny record showed the relevant expenditure details had been furnished. Circular No. 5/2012 and the amended medical regulations, being introduced after assessment year 2008-09, could not supply tangible material for reopening that year's assessment. The reopening therefore lacked the jurisdictional basis required under section 147, and the reassessment notice and objection order were quashed in favour of the assessee. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433953