9911796707
TMI Blog1964 (1) TMI 1X X X X Extracts X X X X X X X X Extracts X X X X ..... come has occurred by reason of the omission or failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment for the particular year - above conditions not satisfied - appeal dismissed - - - - - Dated:- 15-1-1964 - Judge(s) : M. S. MENON., M. MADHAVAN NAIR. JUDGMENT The judgment of the court was delivered by M. S. MENON C. J.- This is an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd truly all material facts necessary for his assessment for that year, income, profits or gains chargeable to income-tax have escaped assessment for that year, or have been under-assessed, or assessed at too low a rate, or have been made the subject of excessive relief under the Act, or excessive loss or depreciation allowance has been computed." It is agreed that there has been no omission or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he omission or failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment for that year. The curious thing in this case is that neither in the first affidavit dated 5th July, 1961, nor in the second affidavit dated 18th July, 1962, which was permitted to be filed by the court after the hearing of the case had begun, is there an averment to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee to disclose fully and truly all material facts necessary for his assessment for the particular year " and held that neither of the two affidavits is sufficient for sustaining the notice impugned by the respondent. We have been taken through the two affidavits and have reached the same conclusion. The decision of the Supreme Court mentioned by the learned judge is Calcutta Discount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ruly all material facts necessary for his assessment for that year. Both these conditions are conditions precedent to be satisfied before the Income-tax Officer could have jurisdiction to issue a notice for the assessment or reassessment beyond the period of four years, but within the period of eight years, from the end of the year in question." As the second of the two conditions precedent has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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