https://www.taxtmi.com/caselaws?id=26062 The High Court affirmed the Tribunal's decision that the reopening of assessment under section 147(a) of the Income-tax Act was justified due to the assessee's failure to disclose primary facts related to the sale of shares and capital gains. The court held that the omission to fully disclose material facts resulted in an escapement of income, emphasizing the duty to disclose all relevant information for assessment purposes. The judgment favored the Revenue, concluding that the reassessment was valid. en-us Wed, 13 Mar 1985 00:00:00 +0530 Tue, 02 Feb 2010 15:28:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26062 The High Court affirmed the Tribunal's decision that the reopening of assessment under section 147(a) of the Income-tax Act was justified due to the assessee's failure to disclose primary facts related to the sale of shares and capital gains. The court held that the omission to fully disclose material facts resulted in an escapement of income, emphasizing the duty to disclose all relevant information for assessment purposes. The judgment favored the Revenue, concluding that the reassessment was valid. Case-Laws Income Tax Wed, 13 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26062