https://www.taxtmi.com/caselaws?id=7360 Reassessment under the income-tax reassessment provision could not be sustained because the assessee had disclosed the primary material facts: the partnership's existence, the dispute over its affairs, the High Court proceedings, the judgment, and the explanation for the return entry. The obligation is limited to disclosure of basic facts, not the inferences to be drawn from them. Since the assessee did not know at the time of filing that the partnership would ultimately be found to yield profits, a later assessment and post-assessment protest letters could not retrospectively turn a true disclosure into suppression. Reassessment was therefore invalid. en-us Fri, 22 Nov 1968 00:00:00 +0530 Wed, 18 Feb 2009 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7360 Reassessment under the income-tax reassessment provision could not be sustained because the assessee had disclosed the primary material facts: the partnership's existence, the dispute over its affairs, the High Court proceedings, the judgment, and the explanation for the return entry. The obligation is limited to disclosure of basic facts, not the inferences to be drawn from them. Since the assessee did not know at the time of filing that the partnership would ultimately be found to yield profits, a later assessment and post-assessment protest letters could not retrospectively turn a true disclosure into suppression. Reassessment was therefore invalid. Case-Laws Income Tax Fri, 22 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7360