Indo-Aden Salt Mfg. & Trading Co. (P) Ltd. vs Commissioner Of Income Tax
Whether the reassessment proceedings under section 147(a) of the Income Tax Act, 1961, for the assessment years 1955-56 to 1962-63 were valid in law, given the assessee's failure to disclose the material fact that its assets (salt pans, reservoirs, etc.) were substantially constructed of earth (93%) and not masonry, thereby claiming excessive depreciation --- Held Yes.
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