https://www.taxtmi.com/caselaws?id=20964 The High Court upheld the validity of initiating proceedings for reopening the assessment under section 147(a) for the assessment year 1949-50. The Court found that the discrepancy in statements made by the assessee in different years provided sufficient grounds for the Income-tax Officer to believe that material facts were not fully disclosed. The Court emphasized that the reassessment proceedings would address the correctness of the statements made by the assessee. The case was remanded to the Appellate Assistant Commissioner for a decision on the appeal's merits, ruling in favor of the Revenue and awarding costs to the Revenue. en-us Tue, 11 Feb 1992 00:00:00 +0530 Wed, 18 Nov 2009 12:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20964 The High Court upheld the validity of initiating proceedings for reopening the assessment under section 147(a) for the assessment year 1949-50. The Court found that the discrepancy in statements made by the assessee in different years provided sufficient grounds for the Income-tax Officer to believe that material facts were not fully disclosed. The Court emphasized that the reassessment proceedings would address the correctness of the statements made by the assessee. The case was remanded to the Appellate Assistant Commissioner for a decision on the appeal's merits, ruling in favor of the Revenue and awarding costs to the Revenue. Case-Laws Income Tax Tue, 11 Feb 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20964