https://www.taxtmi.com/caselaws?id=61789 The Tribunal found that the assessee concealed income by suppressing the value of closing stock, falling within clause (c) of sub-section (1) of section 271. Consequently, section 153(1)(b) applied, allowing the assessment completed on 30-7-1983 to be within the prescribed time limit. The Tribunal allowed the Department's appeal, setting aside the CIT(A)'s ruling that the assessment was time-barred and instructing the CIT(A) to address other grounds raised by the assessee. en-us Wed, 15 Feb 1989 00:00:00 +0530 Fri, 14 Jan 2011 18:58:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61789 The Tribunal found that the assessee concealed income by suppressing the value of closing stock, falling within clause (c) of sub-section (1) of section 271. Consequently, section 153(1)(b) applied, allowing the assessment completed on 30-7-1983 to be within the prescribed time limit. The Tribunal allowed the Department's appeal, setting aside the CIT(A)'s ruling that the assessment was time-barred and instructing the CIT(A) to address other grounds raised by the assessee. Case-Laws Income Tax Wed, 15 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61789