https://www.taxtmi.com/caselaws?id=447242 ITAT Chennai quashed the reopening of assessment beyond four years. The AO failed to record any non-disclosure of material facts by the assessee despite original assessment being completed under section 143(3). Since the revenue could not establish failure to disclose material facts necessary for assessment within the statutory timeframe, the reopening was held invalid in law. The tribunal upheld CIT(A)'s order quashing the reopening and decided against the revenue. en-us Wed, 08 Nov 2023 00:00:00 +0530 Thu, 21 Dec 2023 09:29:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447242 ITAT Chennai quashed the reopening of assessment beyond four years. The AO failed to record any non-disclosure of material facts by the assessee despite original assessment being completed under section 143(3). Since the revenue could not establish failure to disclose material facts necessary for assessment within the statutory timeframe, the reopening was held invalid in law. The tribunal upheld CIT(A)'s order quashing the reopening and decided against the revenue. Case-Laws Income Tax Wed, 08 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447242