
Section 147 Income Tax Act | Reassessment Beyond 4 Years Invalid Without Proven Failure to Disclose Material Facts : Bombay HC
Bombay High Court reaffirms that reassessment proceedings under Section 147 of the Income Tax Act cannot be initiated after four years unless the Revenue establishes the assessee's failure to disclose material facts. The ruling reinforces the finality of assessment orders and curtails arbitrary reopening of closed proceedings, offering critical protection to taxpayers against prolonged litigation.






















