New Delhi Television Ltd. vs Deputy Commissioner Of Income Tax

Whether the revenue had valid reason to believe that undisclosed income had escaped assessment based on subsequent information from later assessment years and minority shareholder complaints --- Held Yes. Whether the assessee failed to disclose fully and truly all material facts during original assessment --- Held No. Whether the notice could be termed as invoking the second proviso to Section 147 regarding assets outside India --- Not specifically answered as the Court found the notice valid under the first proviso.