1994 (1) TMI 80 - HC - Income Tax

Summary

The court ruled that in a reassessment under section 147(a) of the Income-tax Act, the ingredients of that section must be satisfied, even if it is made to give effect to a finding or direction in an order under section 250. The Appellate Tribunal held that the assessment could not be sustained as there was no failure to disclose material facts by the assessee. The court answered the question in the affirmative, against the Revenue, with costs of Rs. 500.