https://www.taxtmi.com/caselaws?id=69049 Search material, recorded admissions and revised returns can justify reopening where they provide a rational basis to believe income escaped assessment and that there was failure to disclose fully and truly all material facts. An earlier interlocutory order on condonation of delay does not finally determine the merits and therefore does not operate as res judicata in the quantum proceedings. A settlement reduced to writing binds the assessee to the assessment position reflected in the returns filed under it; a plea of promissory estoppel cannot be used to resile from that position or to maintain appeals against assessments accepted on that basis. en-us Mon, 26 Aug 1991 00:00:00 +0530 Mon, 04 Apr 2011 17:39:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69049 Search material, recorded admissions and revised returns can justify reopening where they provide a rational basis to believe income escaped assessment and that there was failure to disclose fully and truly all material facts. An earlier interlocutory order on condonation of delay does not finally determine the merits and therefore does not operate as res judicata in the quantum proceedings. A settlement reduced to writing binds the assessee to the assessment position reflected in the returns filed under it; a plea of promissory estoppel cannot be used to resile from that position or to maintain appeals against assessments accepted on that basis. Case-Laws Income Tax Mon, 26 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69049