Assessment cannot be Reopened if Assessee disclosed fully & Truly All Material Facts during Original Assessment

DCIT (LTU) Vs Gail (India) Ltd (ITAT Delhi)

The issue under consideration is whether the AO is correct in re-opening of the assessment under section 147 even though the assessee has disclose fully and truly all the material facts during original assessment?

ITAT states that the first proviso to section 147 provide

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