https://www.taxtmi.com/caselaws?id=472441 Reassessment initiated after four years requires fresh tangible material supporting a belief that income escaped assessment and an allegation that the assessee failed to make full and true disclosure of material facts. Examination of an increase in capital, without new material before the Assessing Officer, does not meet the jurisdictional requirement for reopening a scrutiny assessment. In the absence of an allegation linking escapement to inadequate disclosure, the conditions for reassessment were not satisfied. The reassessment and consequential assessment were quashed. en-us Tue, 22 Apr 2025 00:00:00 +0530 Tue, 13 Oct 2026 04:47:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472441 Reassessment initiated after four years requires fresh tangible material supporting a belief that income escaped assessment and an allegation that the assessee failed to make full and true disclosure of material facts. Examination of an increase in capital, without new material before the Assessing Officer, does not meet the jurisdictional requirement for reopening a scrutiny assessment. In the absence of an allegation linking escapement to inadequate disclosure, the conditions for reassessment were not satisfied. The reassessment and consequential assessment were quashed. Case-Laws Income Tax Tue, 22 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472441