Held that the Assessee has offered lesser interest income received from its foreign subsidiary and furnished no details of the interest income either in its financial statements or by way of notes to accounts; there was no full and true disclosure of necessary facts in respect of interest income. Tribunal also held that there was no specific disclosure of provision for obsolete inventory either in the notes to accounts or by way of explanation to the AO during the course of assessment proceedings; there was failure on the part of the assessee to disclose fully and truly all material facts necessary for its assessment-reopening of assessment after the expiry of four years from the end of the relevant assessment year is valid. (AY.2011-12)