Reassessment Beyond Four Years Justified for Incomplete Disclosure of Material Facts

ACIT Vs Dalmia Cement (Bharat) Limited (Madras High Court) Re-Assessments Possible even after concluded assessment u/s 153A: Madras High Court’s Landmark Ruling in ACIT v. Dalmia Bharat Ltd.  Overview: This is a significant tax law case concerning the reopening of income tax assessments beyond the normal limitation period of four years. The Division Bench of the Madras High Court comprising Justice G.R. Swaminathan and Justice M. Jothiraman reversed the Single Judge’s order and allowed the Income Tax Department to reopen assessments in what appeared to be a potential case of round-t...