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2011 (11) TMI 106 - HC - Income TaxIncome escaping Assessment u/s 147/148 - Attachment of computation of income with the return - claim of exemption u/s 54EC in the computation - Held that:- In both the sets of computation there was a complete silence in regard to the dates on which the amounts were invested. The assessment order does not deal with this aspect. In the circumstances, having applied the touch stone of the legal principles underlying the reopening of an assessment beyond a period of four years, we have come to the conclusion that there was no full and proper disclosure by the assessee of all the material facts necessary for the assessment. - A true disclosure is a disclosure which is truthful in all respects. - As the assessee failed to do so, the Revenue in the present case would be justified in reopening the assessment on the ground that income has escaped assessment. - Decided against the assessee.
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