https://www.taxtmi.com/caselaws?id=458610 The ITAT Kolkata held that reopening of assessment under section 147 after four years was invalid. The AO failed to establish the mandatory jurisdictional condition precedent under the first proviso to section 147, specifically failing to allege or demonstrate that the assessee had not disclosed fully and truly all material facts necessary for assessment. The Reasons recorded by the AO did not specify which facts or materials were not disclosed by the assessee. The vital link between the Reasons and findings was not established, which serves as a safeguard against arbitrary reopening. The CIT(A)'s decision to annul the reopening and subsequent reassessment order was upheld, making all subsequent proceedings null and void. en-us Wed, 26 Sep 2018 00:00:00 +0530 Fri, 08 Nov 2024 19:56:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458610 The ITAT Kolkata held that reopening of assessment under section 147 after four years was invalid. The AO failed to establish the mandatory jurisdictional condition precedent under the first proviso to section 147, specifically failing to allege or demonstrate that the assessee had not disclosed fully and truly all material facts necessary for assessment. The Reasons recorded by the AO did not specify which facts or materials were not disclosed by the assessee. The vital link between the Reasons and findings was not established, which serves as a safeguard against arbitrary reopening. The CIT(A)'s decision to annul the reopening and subsequent reassessment order was upheld, making all subsequent proceedings null and void. Case-Laws Income Tax Wed, 26 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458610