https://www.taxtmi.com/caselaws?id=6285 The Supreme Court allowed the appeals, setting aside the High Court's judgment and quashing the impugned notice issued by the Income-tax Officer. The Court clarified that the information regarding bonus shares acquired after January 1, 1954, was irrelevant for the assessment and did not justify the belief of an escapement of tax assessment. The assessee was awarded costs for the appeal. en-us Mon, 04 Oct 1971 00:00:00 +0530 Wed, 04 Mar 2015 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6285 The Supreme Court allowed the appeals, setting aside the High Court's judgment and quashing the impugned notice issued by the Income-tax Officer. The Court clarified that the information regarding bonus shares acquired after January 1, 1954, was irrelevant for the assessment and did not justify the belief of an escapement of tax assessment. The assessee was awarded costs for the appeal. Case-Laws Income Tax Mon, 04 Oct 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6285