https://www.taxtmi.com/caselaws?id=273141 Reassessment under section 34 of the Indian Income-tax Act, 1922 was upheld for an unexplained credit of Rs. 25,000 because the return and assessment records did not disclose it as the assessee's own income, and the officer had material for a reasonable belief of non-disclosure of primary facts. Reopening was not justified for the Cochin business income enhanced from an estimated figure to a higher amount, because the assessee had only made an estimate when filing the return, there was no material showing knowledge of the exact income at that time, and the later notice was also beyond the four-year limit under section 34(1)(b). The text states that an estimated item cannot be reopened piecemeal without the statutory basis and time compliance. en-us Thu, 29 Mar 1962 00:00:00 +0530 Fri, 08 Jun 2018 10:13:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273141 Reassessment under section 34 of the Indian Income-tax Act, 1922 was upheld for an unexplained credit of Rs. 25,000 because the return and assessment records did not disclose it as the assessee's own income, and the officer had material for a reasonable belief of non-disclosure of primary facts. Reopening was not justified for the Cochin business income enhanced from an estimated figure to a higher amount, because the assessee had only made an estimate when filing the return, there was no material showing knowledge of the exact income at that time, and the later notice was also beyond the four-year limit under section 34(1)(b). The text states that an estimated item cannot be reopened piecemeal without the statutory basis and time compliance. Case-Laws Income Tax Thu, 29 Mar 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273141