Dismissing the appeal of the revenue the Court held that, there was no failure to disclose material facts , the details were furnished in the course of original assessment proceedings as part of annexure . Accordingly the reassessment is held to be not valid. (AY. 2008 -09)
CIT v. Santech Solutions Pvt. Ltd. (2018) 409 ITR 301 (Mad.)(HC)Editorial: SLP dismissed due to low tax effect, PCIT v. Santech Solutions Pvt. Ltd ( 2019) 263 Taxman 248 (SC)
S. 147 : Reassessment-After the expiry of four years-No failure to disclose material facts- Reassessment is bad in law. [S. 148]