S.147: Reassessment-After the expiry of four years- Asset written off and factory land development charges – No allegation of failure to disclose material facts- No new facts- Notice of reassessment is held to be invalid .[ S. 148 ]
S. P. Mani and Mohan Dairy v. ACIT (2019)418 ITR 703 / 183 DTR 321 / 267 Taxman 450/ 311 CTR 631 (Mad) (HC)