https://www.taxtmi.com/caselaws?id=173361 A reassessment notice was treated as one issued for escaped income due to failure to disclose fully and truly all material facts, bringing it within section 34(1)(a) of the Income-tax Act, 1922 rather than section 34(1)(b); on that footing, it was not time-barred. The Court also accepted, on the record before it, that the statutory prerequisites were met because the notice referred to the Commissioner's satisfaction and no clear absence of recorded reasons was shown in writ proceedings. It further held that the notice was not invalid for failing to state the source of escaped income or for the assessment-year wording, since the assessee understood and responded to it. en-us Sat, 04 Oct 1958 00:00:00 +0530 Mon, 14 Sep 2015 12:07:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173361 A reassessment notice was treated as one issued for escaped income due to failure to disclose fully and truly all material facts, bringing it within section 34(1)(a) of the Income-tax Act, 1922 rather than section 34(1)(b); on that footing, it was not time-barred. The Court also accepted, on the record before it, that the statutory prerequisites were met because the notice referred to the Commissioner's satisfaction and no clear absence of recorded reasons was shown in writ proceedings. It further held that the notice was not invalid for failing to state the source of escaped income or for the assessment-year wording, since the assessee understood and responded to it. Case-Laws Income Tax Sat, 04 Oct 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173361