https://www.taxtmi.com/highlights?id=102111 Reopening a completed scrutiny assessment beyond four years requires escapement of income to be attributable to the assessee's failure to disclose fully and truly all material facts. Where the immovable-property sale, sale consideration and explanation for the additional stamp-duty value were examined and disclosed in the original assessment, the recorded reasons must identify a material fact withheld by the assessee. A later different view on the same material, including the applicability of the stamp-duty valuation provision, amounts to a change of opinion and cannot meet the jurisdictional condition. The reassessment notice and consequential proceedings were therefore quashed. en-us Mon, 27 Jul 2026 08:27:45 +0530 Mon, 27 Jul 2026 08:27:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=102111 Reopening a completed scrutiny assessment beyond four years requires escapement of income to be attributable to the assessee's failure to disclose fully and truly all material facts. Where the immovable-property sale, sale consideration and explanation for the additional stamp-duty value were examined and disclosed in the original assessment, the recorded reasons must identify a material fact withheld by the assessee. A later different view on the same material, including the applicability of the stamp-duty valuation provision, amounts to a change of opinion and cannot meet the jurisdictional condition. The reassessment notice and consequential proceedings were therefore quashed. Highlights Income Tax Mon, 27 Jul 2026 08:27:45 +0530 https://www.taxtmi.com/highlights?id=102111