https://www.taxtmi.com/caselaws?id=773424 The ITAT Delhi dismissed the Revenue's appeal challenging the validity of reassessment proceedings initiated after four years. The tribunal held that where an assessee has discharged their duty by furnishing full and true particulars during original assessment under section 143(3), reopening requires either proof that disclosure was incomplete or possession of tangible material establishing income escapement. The assessing officer failed to demonstrate either condition, effectively conducting an impermissible review of the same materials previously examined. Without tangible material having a live link to belief of income escapement, the reassessment was invalid and consequently annulled. en-us Fri, 30 May 2025 00:00:00 +0530 Mon, 23 Jun 2025 08:42:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773424 The ITAT Delhi dismissed the Revenue's appeal challenging the validity of reassessment proceedings initiated after four years. The tribunal held that where an assessee has discharged their duty by furnishing full and true particulars during original assessment under section 143(3), reopening requires either proof that disclosure was incomplete or possession of tangible material establishing income escapement. The assessing officer failed to demonstrate either condition, effectively conducting an impermissible review of the same materials previously examined. Without tangible material having a live link to belief of income escapement, the reassessment was invalid and consequently annulled. Case-Laws Income Tax Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773424