https://www.taxtmi.com/caselaws?id=757909 Gujarat HC ruled in favor of the assessee in a reopening of assessment case where notice was issued beyond four years. The court found that the AO had already sought and received land cost details during regular assessment proceedings, and after considering these details, passed the assessment order under section 143(3). The court held that since there was no failure by the petitioner to fully and truly disclose material facts during the original assessment, and the notice was issued beyond the four-year limitation period, the AO lacked jurisdiction to assume reason to believe that income had escaped assessment. The petition was allowed. en-us Tue, 27 Aug 2024 00:00:00 +0530 Wed, 09 Jul 2025 15:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757909 Gujarat HC ruled in favor of the assessee in a reopening of assessment case where notice was issued beyond four years. The court found that the AO had already sought and received land cost details during regular assessment proceedings, and after considering these details, passed the assessment order under section 143(3). The court held that since there was no failure by the petitioner to fully and truly disclose material facts during the original assessment, and the notice was issued beyond the four-year limitation period, the AO lacked jurisdiction to assume reason to believe that income had escaped assessment. The petition was allowed. Case-Laws Income Tax Tue, 27 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757909