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Full and true disclosures must mean what the statute says and requires specific disclosure of each fact – Bombay HC
Case Law Details
- Case Name
- The Indian Hume Pipe Co. Ltd. Vs The Assistant Commissioner of Income Tax (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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The Indian Hume Pipe Co Ltd vs. ACIT (Bombay High Court)- Full and true disclosures must mean what the statute says. These disclosures cannot be garbled or hidden in the crevices of the documentary material which has been filed by the assessee with the Assessing Officer. The assessee must act with candor and the disclosure must be full and true. A full disclosure is a disclosure of all material facts which does not contain any hidden material or suppression of fact. A true disclosure is a disclosure which is truthful in all respects. Just as the power of the Revenue to reopen an assessment bey...
