Reopening Beyond Four-Year Limit Invalid if Original Assessment Fully Disclosed Facts

Axter Pharmaceuticals India Private Limited Vs ACIT (Gujarat High Court) Axter Pharmaceuticals India Private Limited challenged notices issued under Section 148 of the Income Tax Act, 1961 for the Assessment Years 2015-16, 2016-17, and 2017-18 before the Gujarat High Court. The petitioner’s primary grievance was against reopening of assessments beyond the four-year period under Section 147, contending that there was no failure to disclose material facts and that the Assessing Officer (AO) lacked jurisdiction to issue the notices. Read SC Judgment: No Reassessment on Issues Already Scrutinis...