https://www.taxtmi.com/caselaws?id=62842 The High Court upheld the Commissioner's jurisdiction under section 263 for reassessment based on discrepancies in cash credits, emphasizing the need for further enquiries by the Income-tax Officer to verify the genuineness of the credits. It was highlighted that the Commissioner should not express final opinions on controversial points to allow for an independent assessment during reassessment. The judgment dismissed the appeal and supported the Commissioner's order for fresh assessment while emphasizing the importance of thorough investigations into the authenticity of cash credits. en-us Tue, 14 Feb 1989 00:00:00 +0530 Sat, 22 Jan 2011 11:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62842 The High Court upheld the Commissioner's jurisdiction under section 263 for reassessment based on discrepancies in cash credits, emphasizing the need for further enquiries by the Income-tax Officer to verify the genuineness of the credits. It was highlighted that the Commissioner should not express final opinions on controversial points to allow for an independent assessment during reassessment. The judgment dismissed the appeal and supported the Commissioner's order for fresh assessment while emphasizing the importance of thorough investigations into the authenticity of cash credits. Case-Laws Income Tax Tue, 14 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62842