https://www.taxtmi.com/caselaws?id=27738 The High Court held that the assessee was not required to disclose deemed dividends as per legal precedents, and thus, the proceedings under section 147(a) of the Income-tax Act were deemed invalid. The court emphasized that the duty of disclosure extends only to primary facts, not inferences. As the assessee had disclosed the loan and company's profits during the original assessment, the court found no grounds for a reference and dismissed the petition, with no order as to costs. en-us Wed, 26 Oct 1983 00:00:00 +0530 Mon, 15 Feb 2010 17:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27738 The High Court held that the assessee was not required to disclose deemed dividends as per legal precedents, and thus, the proceedings under section 147(a) of the Income-tax Act were deemed invalid. The court emphasized that the duty of disclosure extends only to primary facts, not inferences. As the assessee had disclosed the loan and company's profits during the original assessment, the court found no grounds for a reference and dismissed the petition, with no order as to costs. Case-Laws Income Tax Wed, 26 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27738