https://www.taxtmi.com/caselaws?id=23030 The Tribunal's treatment of accrual under section 41(2) of the Income-tax Act, 1961 was incomplete because it did not record a categorical finding on whether the assessee had consistently disclosed the written down value of the assets and the compensation received in its balance-sheets. That omission was material because reopening under section 147(a) depended on whether there had been full and true disclosure of all material facts. The High Court therefore held that the reference could not be satisfactorily answered on the existing statement of the case and directed the Tribunal to submit a further statement after recording the disclosure finding. en-us Thu, 16 Nov 1989 00:00:00 +0530 Wed, 16 Dec 2009 11:46:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23030 The Tribunal's treatment of accrual under section 41(2) of the Income-tax Act, 1961 was incomplete because it did not record a categorical finding on whether the assessee had consistently disclosed the written down value of the assets and the compensation received in its balance-sheets. That omission was material because reopening under section 147(a) depended on whether there had been full and true disclosure of all material facts. The High Court therefore held that the reference could not be satisfactorily answered on the existing statement of the case and directed the Tribunal to submit a further statement after recording the disclosure finding. Case-Laws Income Tax Thu, 16 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23030