1986 (9) TMI 16

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..... eferred the following question of law for the opinion of this court : " Whether the Tribunal was right in law in holding that the reopening of the assessment was not in order ? " The assessee is an individual. The assessment year is 1973-74. The original assessment had been completed by the Income-tax Officer under section 143(1) of the Act on the income declared at Rs. 21,640. Subsequently, o .....

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..... ruly all material facts necessary for his assessment. The Tribunal has given detailed reasons in support of that conclusion on the material facts disclosed by the assessee at the first instance. On the facts found, in our opinion, the conclusion of the Tribunal is justified. A case similar to the present one has been considered by the Supreme Court in Gemini Leather Stores v. ITO [1975] 100 ITR .....

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