https://www.taxtmi.com/caselaws?id=276235 An assessee must make a full and true disclosure of all primary facts material to assessment; where plant, machinery or buildings are sold above written down value, the excess as deemed profits should be clearly disclosed, and merely filing sale documents or figures is not enough if the taxable result must be worked out by the tax officer. The note also explains that reassessment under section 34(1)(b) may be sustained where post-assessment information or later correlation of existing materials reveals escaped income, but not on a bare review of patent facts. en-us Thu, 10 Feb 1966 00:00:00 +0530 Fri, 02 Nov 2018 16:22:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276235 An assessee must make a full and true disclosure of all primary facts material to assessment; where plant, machinery or buildings are sold above written down value, the excess as deemed profits should be clearly disclosed, and merely filing sale documents or figures is not enough if the taxable result must be worked out by the tax officer. The note also explains that reassessment under section 34(1)(b) may be sustained where post-assessment information or later correlation of existing materials reveals escaped income, but not on a bare review of patent facts. Case-Laws Income Tax Thu, 10 Feb 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276235