Reopening of assessment beyond 4 years not permitted without finding assessee’s failure to produce material facts

Brief of the Case Delhi High Court held In the case of The Principal CIT vs. Samcor Glass Ltd. & M/s Samtel Color Ltd. that it is a settled position of law that reopening of assessment beyond 4 years is not sustainable unless there was a failure by the Assessee to disclose any material particulars on the basis of which there were reasons to believe that the income has escaped assessment. In the given case, the AO has not recorded any such failure on the part of the assessee; accordingly reopening of assessment is not valid in law. Facts of the Case There are 2 parties but the issue involve...