Supreme Court · 1996 INSC 748 · Decided 16 July 1996
Sri Krishna PVT. LTD. ETC. v. Ito Calcutta and ORS.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 748 · [1996] SUPP. 3 S.C.R. 627
- Case number
- CIVIL APPEAL No. 1562/1977
- Decided
- 16 July 1996
- Bench
- B.P. JEEVAN REDDY, S.B. MAJMUDAR (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 147, 148
Headnote
B Income Tax Act, 1961-Sections 147 and 148--Reopening of assess­ ment-Scope of enqui1)~Duty of assessee to fully and uuely disclose all mate-rial facts-Non disc/osure--Creation of bogus entries of /oan.1~Reasonable b""uunds fur Income Tax Officer to issue notice u/s 148. C In the taken from a number of persons. The Assessment was made accepting the assessee's case. During . the assessment proceedings for the succeeding year, 1960·61, the assessee again showed hundi loans of more than rupees seventeen lakhs. The D Income Tax Ollicer held that out of the hundi
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