{"id":980,"date":"2018-05-24T08:41:26","date_gmt":"2018-05-24T08:41:26","guid":{"rendered":"http:\/\/itatonline.org\/digest\/cit-v-tata-ceramics-ltd-2018-403-itr-389-ker-hc\/"},"modified":"2018-09-18T02:06:18","modified_gmt":"2018-09-18T02:06:18","slug":"cit-v-tata-ceramics-ltd-2018-403-itr-389-ker-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-tata-ceramics-ltd-2018-403-itr-389-ker-hc\/","title":{"rendered":"CIT  v. Tata Ceramics Ltd.  (2018) 403 ITR 389\/ 168 DTR 417 (Ker) (HC)"},"content":{"rendered":"<p><strong>S.147: Reassessment-After the\u00a0\u00a0 expiry of four years- <\/strong><strong>Reassessment \u2014Interest on deposits not disclosed in return \u2014<\/strong><strong>Details were available in the books of account or the balance-sheet or profit and loss account could not absolve the assessee from a true and correct disclosure of material facts necessary for assessment. <\/strong><strong>Explanation 1 to S.\u00a0 147 is\u00a0applicable \u2013 Reassessment is valid [ S.148 ]\u00a0 <\/strong><\/p>\n<p>Allowing the appeal of the revenue the Court held that ,interest on deposits\u00a0 was not disclosed in return\u00a0 just because details were available in the books of account or the balance-sheet or profit and loss account could not absolve the assessee from a true and correct disclosure of material facts necessary for assessment. Explanation 1 to S.\u00a0 147 is\u00a0applicable. Reassessment was held to be\u00a0 valid .( AY.1994 -95)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S.147: Reassessment-After the   expiry of four years- Reassessment \u2014Interest on deposits not disclosed in return \u2014 Details were available in the books of account or the balance-sheet or profit and loss account could not absolve the assessee from a true and correct disclosure of material facts necessary for assessment. Explanation 1 to S.  147 is applicable \u2013 Reassessment is valid [ S.148 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-980","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fO","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=980"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/980\/revisions"}],"predecessor-version":[{"id":2417,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/980\/revisions\/2417"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}