https://www.taxtmi.com/caselaws?id=63563 The Tribunal rejected the department's Miscellaneous Application seeking rectification of the order, emphasizing that an assessment or re-assessment under section 147 is not a regular assessment before the amendments in sections 215 and 139(8) from assessment year 1985-86. The Tribunal relied on various judgments and concluded that the department's reliance on the Supreme Court's judgment in the case of Modi Industries Ltd. was misplaced. The Tribunal highlighted the importance of specific findings by the Supreme Court regarding the prospective or retrospective applicability of provisions and differentiated between the interpretation of different provisions based on legal principles. en-us Wed, 11 Mar 1998 00:00:00 +0530 Mon, 31 Jan 2011 17:23:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63563 The Tribunal rejected the department's Miscellaneous Application seeking rectification of the order, emphasizing that an assessment or re-assessment under section 147 is not a regular assessment before the amendments in sections 215 and 139(8) from assessment year 1985-86. The Tribunal relied on various judgments and concluded that the department's reliance on the Supreme Court's judgment in the case of Modi Industries Ltd. was misplaced. The Tribunal highlighted the importance of specific findings by the Supreme Court regarding the prospective or retrospective applicability of provisions and differentiated between the interpretation of different provisions based on legal principles. Case-Laws Income Tax Wed, 11 Mar 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63563