https://www.taxtmi.com/caselaws?id=289027 Reassessment under Section 34(1)(a) of the Income Tax Act, 1922 requires a real jurisdictional basis: the Income Tax Officer must reasonably believe that income escaped assessment because the assessee failed to disclose fully and truly a primary, material fact relevant to the year in question. Where the alleged undisclosed fact is objectively incorrect, non-existent, or irrelevant to that assessment year, the statutory condition is not met and reopening cannot stand. On these facts, the proceedings were not validly initiated because the supposed escapement rested on a mistaken factual premise. en-us Thu, 07 Oct 1965 00:00:00 +0530 Fri, 10 Jul 2020 11:21:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289027 Reassessment under Section 34(1)(a) of the Income Tax Act, 1922 requires a real jurisdictional basis: the Income Tax Officer must reasonably believe that income escaped assessment because the assessee failed to disclose fully and truly a primary, material fact relevant to the year in question. Where the alleged undisclosed fact is objectively incorrect, non-existent, or irrelevant to that assessment year, the statutory condition is not met and reopening cannot stand. On these facts, the proceedings were not validly initiated because the supposed escapement rested on a mistaken factual premise. Case-Laws Income Tax Thu, 07 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289027