https://www.taxtmi.com/caselaws?id=188858 Reassessment under section 34(1)(a) of the Income-tax Act, 1922 was upheld where the assessee failed to make a full and true disclosure of material facts and later account evidence showed income had escaped assessment. A fresh notice under section 34 was held unnecessary because a valid notice had already been issued and the appellate direction only required the assessment to be redone according to law. On taxability, an unappropriated receipt of Rs. 1,50,000 was not treated as taxable income for the year, since no specific appropriation was proved and the presumption most favourable to the taxpayer applied against the revenue. en-us Thu, 06 Jan 1966 00:00:00 +0530 Mon, 19 Dec 2016 10:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188858 Reassessment under section 34(1)(a) of the Income-tax Act, 1922 was upheld where the assessee failed to make a full and true disclosure of material facts and later account evidence showed income had escaped assessment. A fresh notice under section 34 was held unnecessary because a valid notice had already been issued and the appellate direction only required the assessment to be redone according to law. On taxability, an unappropriated receipt of Rs. 1,50,000 was not treated as taxable income for the year, since no specific appropriation was proved and the presumption most favourable to the taxpayer applied against the revenue. Case-Laws Income Tax Thu, 06 Jan 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188858