Reopening u/s. 148 beyond 4 years quashed as material facts fully & truly disclosed: ITAT Raipur

Pradeep Kumar Agrawal Vs ITO (ITAT Raipur)

ITAT Raipur held that reopening of proceedings under section 148 of the Income Tax Act beyond a period of 4 years without failure on the part of the assessee to disclose fully & truly all the material facts is liable to be annulled. Accordingly, appeal of the assessee allowed and reassessment quashed.

Facts- The assessee is engaged in trading business of paddy, rice, other bi-product and transport work. The case of assessee was selected for scrutiny assessment u/s 143(3), which was completed on 29.11.2016 determ

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