HC sets aside reassessment initiated due to payment of sugarcane above its price fixed by Govt.

IT : There being no failure on part of assessee to disclose fully and truly all material facts necessary for its assessment, reopening of assessment beyond four years from end of relevant year on ground that assessee had paid more cane price than price fixed by Govt. under Sugar (Control) order which was nothing but distribution of profit resulting in escapement of income, was without jurisdiction