https://www.taxtmi.com/caselaws?id=22088 The Court held in favor of the Revenue, affirming the Income-tax Officer's jurisdiction under section 147(a) to initiate reassessment proceedings. The Court emphasized the duty of the assessee to fully disclose all material facts for assessment, citing relevant case law. It was found that the assessee's failure to disclose interest income resulted in income escaping assessment. The reassessment was deemed valid due to the omission of material facts by the assessee, highlighting the importance of full disclosure to prevent income escapement. en-us Wed, 20 Feb 1991 00:00:00 +0530 Mon, 07 Dec 2009 10:27:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22088 The Court held in favor of the Revenue, affirming the Income-tax Officer's jurisdiction under section 147(a) to initiate reassessment proceedings. The Court emphasized the duty of the assessee to fully disclose all material facts for assessment, citing relevant case law. It was found that the assessee's failure to disclose interest income resulted in income escaping assessment. The reassessment was deemed valid due to the omission of material facts by the assessee, highlighting the importance of full disclosure to prevent income escapement. Case-Laws Income Tax Wed, 20 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22088