https://www.taxtmi.com/caselaws?id=193303 A notice for reassessment was upheld because the assessee did not fully and truly disclose all material facts necessary for assessment when claiming depreciation. The prior allowance of initial depreciation was a material fact directly affecting the statutory ceiling on further depreciation under the Income-tax Act, 1922, and its omission from the disclosure meant the assessing officer was not shown to have knowledge of it. Full disclosure extended beyond the return form and covered all facts needed to support the claim. On that basis, reopening under the escaped-assessment provisions was valid. en-us Thu, 02 Sep 1965 00:00:00 +0530 Sat, 22 Jul 2017 13:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193303 A notice for reassessment was upheld because the assessee did not fully and truly disclose all material facts necessary for assessment when claiming depreciation. The prior allowance of initial depreciation was a material fact directly affecting the statutory ceiling on further depreciation under the Income-tax Act, 1922, and its omission from the disclosure meant the assessing officer was not shown to have knowledge of it. Full disclosure extended beyond the return form and covered all facts needed to support the claim. On that basis, reopening under the escaped-assessment provisions was valid. Case-Laws Income Tax Thu, 02 Sep 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193303