Supreme Court of India
Parashuram Pottery Works Co. Ltd. v. Income Tax Officer, Circle-1, Ward A, Rajkot, Gujarat
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the opinion that it cannot be said that the excess depreciation was allowed to the appellant company and its income as such escaped assessment because of its omission or failure to disclose fully and truly all material facts.
Judgment, page 10
From the headnote
Income Tax Act, 1961-Secs. 147, 148, 149, lllcome Tax Act 1922-Sec. 10 (2) vi-Reopening of assessment-Omission 011 the part of assessee to disclose fully and truly all material facts-Duty to disclose primary facts-Duty to draw references of l.T.0.-Whether l.T.O. can correct his error or give effect to change in his opinion in reopening proceedings. The appellant a Public Limited Company filed its Income Tax Return relat ing to the assessment years 1957-58 and 1959-60 tinder the Income Tax Act, 1922. The Income Tax Offieer passed assessment orders on 16-4-1959 and on 30-3-1961 respectively in
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Where later benches applied it
Of those, 1 referred to
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