Chargeable Expenditure Escaping Assessment

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Full Text of the Document

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....or to disclose wholly and truly all material facts necessary for his assessment for any assessment year, chargeable expenditure for that year has escaped assessment or has been under-assessed, or (b)  notwithstanding that there has been no omission or failure as mentioned in clause (a) on the part of the assessee, the [Assessing] Officer has, in consequence of information in his possession....