https://www.taxtmi.com/caselaws?id=69771 Reassessment under section 147(a) was held unjustified where the assessee had disclosed the house construction in the return and the Department relied only on alleged under-valuation of the construction cost. The fact of construction was not treated as a material fact requiring separate disclosure in the absence of a specific query during assessment. Even if material, disclosure in Part III of the return was regarded as sufficient. A mere difference between the amount disclosed and the later estimate by the Income-tax Officer did not establish failure to make a full and true disclosure of material facts; the duty to investigate the correct cost lay with the assessing authority. en-us Tue, 06 Nov 1979 00:00:00 +0530 Tue, 12 Apr 2011 10:28:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69771 Reassessment under section 147(a) was held unjustified where the assessee had disclosed the house construction in the return and the Department relied only on alleged under-valuation of the construction cost. The fact of construction was not treated as a material fact requiring separate disclosure in the absence of a specific query during assessment. Even if material, disclosure in Part III of the return was regarded as sufficient. A mere difference between the amount disclosed and the later estimate by the Income-tax Officer did not establish failure to make a full and true disclosure of material facts; the duty to investigate the correct cost lay with the assessing authority. Case-Laws Income Tax Tue, 06 Nov 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69771