https://www.taxtmi.com/caselaws?id=17527 The judgment upheld the reopening of assessment under section 147(a) of the Income-tax Act and the application of section 41(1) regarding the cessation of liability for payment of purchase tax. The Tribunal's decision was deemed legal, emphasizing the taxpayer's duty to disclose all material facts for a valid assessment. The outcome favored the Revenue, affirming the validity of the Tribunal's order and directing the forwarding of a copy to the Income-tax Appellate Tribunal, Cochin Bench. en-us Thu, 01 Aug 1996 00:00:00 +0530 Wed, 23 Sep 2009 11:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17527 The judgment upheld the reopening of assessment under section 147(a) of the Income-tax Act and the application of section 41(1) regarding the cessation of liability for payment of purchase tax. The Tribunal's decision was deemed legal, emphasizing the taxpayer's duty to disclose all material facts for a valid assessment. The outcome favored the Revenue, affirming the validity of the Tribunal's order and directing the forwarding of a copy to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Thu, 01 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17527