Re-opening of concluded assessment not valid if no failure on the part of petitioner to disclose fully & truly all material facts

State Bank of India Vs. Vineet Agrawal (Bombay High Court) we are of the considered opinion that no reasonable view can be taken that there was failure on the part of the petitioner to disclose fully and truly all material facts necessary for its assessment for the assessment year 1990-91. If that be so then respondent No.1 could not have formed any reason to believe that any income of the petitioner chargeable to tax for the said assessment year had escaped assessment. Thus the condition precedent for re-opening the concluded assessment of the petitioner is absent in the present case. In such...