Reopening of completed assessment beyond four years unjustified as material facts fully and truly disclosed

Maya Devi Agrawal Vs ITO (ITAT Raipur) ITAT Raipur held that reopening of completed assessment beyond four years without failure on the part of the assessee to fully and truly disclose all the material facts is unjustified and liable to be quashed. Facts- The assessee had filed her return of income declaring an income of Rs.3,72,070/- [including Long-term capital gain (LTCG) of Rs.2,21,602/-]. Return of income filed by the assessee was processed as such u/s. 143(1) of the Act. Original assessment was, thereafter, framed by the A.O. vide his order passed u/s. 143(3) of the Act, wherein the inco...