https://www.taxtmi.com/caselaws?id=28476 Where an assessee has not fully and truly disclosed all material facts, reassessment may validly proceed under section 34(1)(a) despite initiation after four years. The text also states that unexplained credits of Rs. 47,000 and a balance of Rs. 35,860 were properly treated as income from undisclosed sources because the assessee failed to prove their nature and source with reliable evidence. A further contention that the failure to summon the assessee's evidence vitiated those findings was rejected, as the conclusions were based on independent material. The reference was answered in favour of the Revenue on all questions. en-us Thu, 30 Sep 1982 00:00:00 +0530 Mon, 22 Feb 2010 18:51:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28476 Where an assessee has not fully and truly disclosed all material facts, reassessment may validly proceed under section 34(1)(a) despite initiation after four years. The text also states that unexplained credits of Rs. 47,000 and a balance of Rs. 35,860 were properly treated as income from undisclosed sources because the assessee failed to prove their nature and source with reliable evidence. A further contention that the failure to summon the assessee's evidence vitiated those findings was rejected, as the conclusions were based on independent material. The reference was answered in favour of the Revenue on all questions. Case-Laws Income Tax Thu, 30 Sep 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28476