Reopening of Assessment Ruled Invalid Due to Lack of New Evidence and Failure to Allege Non-Disclosure of Material Facts.

Reopening of Assessment Ruled Invalid Due to Lack of New Evidence and Failure to Allege Non-Disclosure of Material Facts. https://www.taxtmi.com/highlights?id=76741 Validity of reopening of assessment - The High court observed that the reasons for reopening did not specifically allege any failure on the part of the petitioner to disclose all material facts. Moreover, the issues raised were already considered during the original assessment proceedings. Therefore, the reopening based on a change of opinion was not justified. en-us Fri, 19 Apr 2024 16:34:55 +0530 Fri, 19 Apr 2024 16:34:55 +0530 TaxTMI RSS Generator Reopening of Assessment Ruled Invalid Due to Lack of New Evidence and Failure to Allege Non-Disclosure of Material Facts. https://www.taxtmi.com/highlights?id=76741 Validity of reopening of assessment - The High court observed that the reasons for reopening did not specifically allege any failure on the part of the petitioner to disclose all material facts. Moreover, the issues raised were already considered during the original assessment proceedings. Therefore, the reopening based on a change of opinion was not justified. Highlights Income Tax Fri, 19 Apr 2024 16:34:55 +0530 https://www.taxtmi.com/highlights?id=76741