AO Must Prove Non-Disclosure for Assessment Reopening Beyond Four Years

North India Wires Limited Vs DCIT (ITAT Kolkata)

In a significant decision, the Income Tax Appellate Tribunal (ITAT), Kolkata bench, has held that the income tax department cannot reopen assessments beyond the statutory period of four years if the assessee had already disclosed material facts during the original assessment proceedings. The tribunal quashed the reassessment in the case of North India Wires Limited, citing a Supreme Court ruling which emphasizes the onus on the Assessing Officer (AO) to demonstrate the assessee’s failure to fully and truly disclose material fac

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