Case Law Details
Brief of the Case
Delhi High Court held In the case of The Principal CIT vs. Samcor Glass Ltd. & M/s Samtel Color Ltd. that it is a settled position of law that reopening of assessment beyond 4 years is not sustainable unless there was a failure by the Assessee to disclose any material particulars on the basis of which there were reasons to believe that the income has escaped assessment. In the given case, the AO has not recorded any such failure on the part of the assessee; accordingly reopening of assessment is not valid in law.
Facts of the Case
There are 2 parties but the issue involved is similar in both the cases. The question raised in both the appeals is whether the reopening of the assessment under Section 147/148 of the Act is valid?
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