Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 1971 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1971 (7) TMI 32 - HC - Income TaxThe assessee in the instant case did not disclose the fact of this sale in Part V of the return of income. On the other hand, column 5 of the return in which the information regarding sale of building and machinery should have been furnished was scored out by the assessee. Therefore, the mere filing of copies of accounts of building, machinery, etc., did not amount to disclosure of material facts in view of the Explanation to section 34(1)(a). For the reasons recorded above, we answer the question referred to us in the affirmative, i.e., against the assessee and in favour of the department.
|