https://www.taxtmi.com/caselaws?id=470648 Reassessment beyond four years after a scrutiny assessment requires recorded reasons showing escaped income caused by the assessee's failure to fully and truly disclose material facts. Where complete share-transaction particulars had already been furnished, the reasons incorrectly alleged exempt long-term capital gains that were never claimed and disclosed no independent enquiry or omission by the assessee. Such factually incorrect reasons reflected non-application of mind and failed to meet the jurisdictional conditions for reopening. The reassessment was therefore invalid for want of jurisdiction. en-us Tue, 25 Mar 2025 00:00:00 +0530 Mon, 03 Aug 2026 19:04:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470648 Reassessment beyond four years after a scrutiny assessment requires recorded reasons showing escaped income caused by the assessee's failure to fully and truly disclose material facts. Where complete share-transaction particulars had already been furnished, the reasons incorrectly alleged exempt long-term capital gains that were never claimed and disclosed no independent enquiry or omission by the assessee. Such factually incorrect reasons reflected non-application of mind and failed to meet the jurisdictional conditions for reopening. The reassessment was therefore invalid for want of jurisdiction. Case-Laws Income Tax Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470648