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2010 (3) TMI 709 - BOMBAY HIGH COURT
Reassessment – Reassessment beyond 4 years – condition precedent – Failure to disclose material facts necessary for assessment – Assessee carrying on Life Insurance business – Accounts maintained in accordance with statutory provisions – change in statutory provision and consequent change in accounting method – facts disclosed to assessing officer – Reassessment proceedings after 4 ear on ground of that method of accounting was incorrect, not valid