https://www.taxtmi.com/caselaws?id=468613 Reassessment initiated beyond four years from the end of the relevant assessment year requires the recorded reasons to specifically show that income escaped assessment because the assessee failed to disclose fully and truly all material facts necessary for assessment. General information from the investigation wing, without a clear nexus to the assessee and without that jurisdictional assertion, does not satisfy the first proviso to Section 147 of the Income-tax Act, 1961. On these facts, the reopening lacked jurisdiction, the reassessment notice was quashed, and the assessment order based on that reopening could not stand. en-us Fri, 07 Feb 2025 00:00:00 +0530 Thu, 14 May 2026 19:45:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468613 Reassessment initiated beyond four years from the end of the relevant assessment year requires the recorded reasons to specifically show that income escaped assessment because the assessee failed to disclose fully and truly all material facts necessary for assessment. General information from the investigation wing, without a clear nexus to the assessee and without that jurisdictional assertion, does not satisfy the first proviso to Section 147 of the Income-tax Act, 1961. On these facts, the reopening lacked jurisdiction, the reassessment notice was quashed, and the assessment order based on that reopening could not stand. Case-Laws Income Tax Fri, 07 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468613