No Reopening of Income Tax Assessment w/out Failure to Disclose Fully and Truly all Material Facts Necessary: Bombay HC [Read Order]

The Income Tax Department had sought to reopen the petitioner’s assessment order after a period of four years
No Reopening of Income Tax Assessment - Reopening of Income Tax Assessment - Income Tax Assessment - taxscan

The Bombay High Court recently laid down the strict nuances of law permitting the reopening of income tax reassessment, clarifying that no income tax assessment can be sustained beyond a period of four years without there being an explicit failure on part of the assessee to fully and truly disclose all material facts necessary for…

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