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In the absence of failure of the assessee to disclose fully and truly all material facts necessary during his assessment under sub-section (3) of section 143 no action can be taken after the expiry of four years
Case Law Details
- Case Name
- Indian Oil Corpn. Ltd. Vs. DCIT (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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CASE LAWS DETAILS
DECIDED BY: HIGH COURT OF BOMBAY, IN THE CASE OF: Indian Oil Corpn. Ltd. Vs. DCIT, APPEAL NO: Writ Petition No. 53 of 2010, DECIDED ON June 10, 2010
JUDGMENT
(Per DR.D.Y. CHANDRACHUD, J.) :
1. Rule, by consent returnable forthwith. With the consent of Counsel and at their request the Petition is taken up for hearing and final disposal.
2. These proceedings arise out of Assessment Year 200203. The assessee filed a return of income on 30 October 2002 declaring an income of Rs.2620.22 Crores. In the computation of taxable income, the income from other sources was disclosed to co...
