Reassessment was justified if assessee failed to make full, true disclosure of all material facts during original assessment

Thirveni Earthmovers Pvt. Ltd. Vs ACIT (Madras High Court) Reassessment was justified if assessee failed to make full, true disclosure of all material facts during original assessment Conclusion: Where assessee had not made full and true disclosure of all material facts during the original assessment, the reopening of the assessment was not based on the change of opinion but the facts which emanated after the rectification application was filed by assessee and it was incorrect on the part of assessee to state that the reopening of the original assessment was on assumptions and presumptions. He...