https://www.taxtmi.com/caselaws?id=57578 Reassessment under section 147(a) was held invalid because the assessee had disclosed the primary facts in the return materials, including its accounting method and treatment of accrued interest; a wrong inference from disclosed facts did not amount to nondisclosure. Proceedings for the escaped income of an erstwhile bank were held maintainable against the successor bank because the vesting provision transferred liabilities and obligations, including lawful tax liability, to the successor; section 170 was treated as unnecessary on the facts. Interest on sticky loans was also held not includible in total income, following the assessee's earlier case on the same accounting method. en-us Thu, 10 Oct 1985 00:00:00 +0530 Fri, 10 Dec 2010 18:36:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57578 Reassessment under section 147(a) was held invalid because the assessee had disclosed the primary facts in the return materials, including its accounting method and treatment of accrued interest; a wrong inference from disclosed facts did not amount to nondisclosure. Proceedings for the escaped income of an erstwhile bank were held maintainable against the successor bank because the vesting provision transferred liabilities and obligations, including lawful tax liability, to the successor; section 170 was treated as unnecessary on the facts. Interest on sticky loans was also held not includible in total income, following the assessee's earlier case on the same accounting method. Case-Laws Income Tax Thu, 10 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57578