https://www.taxtmi.com/caselaws?id=39412 Reassessment under section 147(a) requires escaped income to result from the assessee's failure to fully and truly disclose primary facts necessary for assessment. Where the assessee had already disclosed the books of account and balance-sheet showing construction expenditure, the assessing authority was obliged to draw the proper inference from those primary facts. A later inspection report or higher cost estimate could not, by itself, establish nondisclosure or create a further duty to disclose additional facts. On that reasoning, the reassessment was held invalid and improper, with the issue decided in favour of the assessee. en-us Mon, 26 Aug 1974 00:00:00 +0530 Fri, 16 Apr 2010 12:55:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39412 Reassessment under section 147(a) requires escaped income to result from the assessee's failure to fully and truly disclose primary facts necessary for assessment. Where the assessee had already disclosed the books of account and balance-sheet showing construction expenditure, the assessing authority was obliged to draw the proper inference from those primary facts. A later inspection report or higher cost estimate could not, by itself, establish nondisclosure or create a further duty to disclose additional facts. On that reasoning, the reassessment was held invalid and improper, with the issue decided in favour of the assessee. Case-Laws Income Tax Mon, 26 Aug 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39412