Reopening Beyond 4 years of Original Assessment without failure to Disclose Material Facts is Bad in Law: ITAT [Read Order]

Reopening - Original Assessment - Disclose Material Facts is Bad in Law - Bad in Law - Disclose Material - ITAT - taxscan

The Chennai Bench of Income Tax Appellate Tribunal (ITAT) has held that the reopening beyond 4 years of original assessment without failure to disclose the material facts was bad in law. The assessee, Crown Real Estate Pvt. Ltd was a resident domestic company engaged in the business of real estate and aquaculture. The assessee filed…

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