https://www.taxtmi.com/caselaws?id=276556 Reassessment under section 34(1)(a) of the Income-tax Act, 1922 depended on whether all material facts had been disclosed in the return. For 1949-50, the return was incomplete because the prescribed partnership particulars were not furnished, amounting to non-disclosure and validating reassessment. For 1952-53, the return disclosed the minor sons admitted to the benefits of partnership and their shares, so the department had the material facts and reassessment was invalid. Interest on capital contributed by those minors was treated as income attributable to their admission to partnership benefits and was includible in the parent's assessment under section 16(3)(a)(ii). en-us Fri, 10 Nov 1961 00:00:00 +0530 Tue, 13 Nov 2018 17:48:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276556 Reassessment under section 34(1)(a) of the Income-tax Act, 1922 depended on whether all material facts had been disclosed in the return. For 1949-50, the return was incomplete because the prescribed partnership particulars were not furnished, amounting to non-disclosure and validating reassessment. For 1952-53, the return disclosed the minor sons admitted to the benefits of partnership and their shares, so the department had the material facts and reassessment was invalid. Interest on capital contributed by those minors was treated as income attributable to their admission to partnership benefits and was includible in the parent's assessment under section 16(3)(a)(ii). Case-Laws Income Tax Fri, 10 Nov 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276556