https://www.taxtmi.com/caselaws?id=49538 Where income escapes assessment because the assessee has not fully and truly disclosed all material facts, the Income-tax Officer may reopen the assessment within the statutory period, and a later revised return cannot displace an assessment already completed. The relevant year was assessable under the Indian Income-tax Act rather than the repealed Mysore Income-tax Act, and the reopening notice was within time under the applicable limitation provision because it proceeded on escaped income attributable to nondisclosure. The challenge to the reassessment notice therefore failed, and the writ petition was dismissed. en-us Mon, 05 Dec 1960 00:00:00 +0530 Sun, 31 Aug 2014 19:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49538 Where income escapes assessment because the assessee has not fully and truly disclosed all material facts, the Income-tax Officer may reopen the assessment within the statutory period, and a later revised return cannot displace an assessment already completed. The relevant year was assessable under the Indian Income-tax Act rather than the repealed Mysore Income-tax Act, and the reopening notice was within time under the applicable limitation provision because it proceeded on escaped income attributable to nondisclosure. The challenge to the reassessment notice therefore failed, and the writ petition was dismissed. Case-Laws Income Tax Mon, 05 Dec 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49538