Assessment Reopening Limited to Four Years if there was Full Disclosure by Assessee

Lalita Troy Caeiro Vs ITO (ITAT Mumbai) In the case of Lalita Troy Caeiro vs. ITO, the Income Tax Appellate Tribunal (ITAT) Mumbai addressed an appeal against the order of the National Faceless Assessment Centre (NFAC), Delhi, pertaining to the assessment year 2011-12 under section 143(3) read with section 147 of the Income Tax Act. The appellant raised several grounds in the appeal, including challenging the reopening of the assessment, disallowance of interest paid, and non-consideration of similar expenses allowed in other co-owners’ cases. Regarding the reopening of the assessment, t...