https://www.taxtmi.com/caselaws?id=55054 The Tribunal upheld the reopening of the assessment under section 147(a) for the assessment year 1964-65 due to non-disclosure of material facts by the assessee. It was found that the assessee received payments for goods not delivered to the State Transport Corporation, constituting trading income. The Tribunal rejected the argument of corresponding liability and upheld the addition made by the Income-tax Officer. The reassessment order was deemed valid as the reasons for reopening were reproduced, emphasizing the duty of the assessee to disclose primary facts. The appeal was dismissed, confirming the addition for the relevant accounting year. en-us Thu, 28 Feb 1991 00:00:00 +0530 Wed, 24 Nov 2010 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55054 The Tribunal upheld the reopening of the assessment under section 147(a) for the assessment year 1964-65 due to non-disclosure of material facts by the assessee. It was found that the assessee received payments for goods not delivered to the State Transport Corporation, constituting trading income. The Tribunal rejected the argument of corresponding liability and upheld the addition made by the Income-tax Officer. The reassessment order was deemed valid as the reasons for reopening were reproduced, emphasizing the duty of the assessee to disclose primary facts. The appeal was dismissed, confirming the addition for the relevant accounting year. Case-Laws Income Tax Thu, 28 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55054