https://www.taxtmi.com/caselaws?id=446532 HC allowed assessee's appeal regarding reassessment under Section 147 beyond four years. Court held that finding of failure to disclose material facts fully and truly is a condition precedent for invoking extended limitation period. Absence of such finding in reassessment notice vitiates the proceedings. Case involved sale of land properties with consideration received in cash, offered as short-term capital gains. HC relied on precedents establishing that non-disclosure finding is sine qua non for valid reassessment beyond four-year period. en-us Wed, 08 Nov 2023 00:00:00 +0530 Tue, 05 Dec 2023 17:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446532 HC allowed assessee's appeal regarding reassessment under Section 147 beyond four years. Court held that finding of failure to disclose material facts fully and truly is a condition precedent for invoking extended limitation period. Absence of such finding in reassessment notice vitiates the proceedings. Case involved sale of land properties with consideration received in cash, offered as short-term capital gains. HC relied on precedents establishing that non-disclosure finding is sine qua non for valid reassessment beyond four-year period. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446532