https://www.taxtmi.com/caselaws?id=66047 The Tribunal upheld the Commissioner's order for fresh assessments under section 143(3) of the Income-tax Act for the assessment years 1984-85 and 1985-86. The Tribunal found that the Commissioner's exercise of revisional jurisdiction was valid, considering discrepancies in the partnership deed and Form 12A declarations indicating potential benamidar partners. It was determined that section 40(b) applied to interest paid to individuals in a representative capacity. The Tribunal emphasized retrospective application of clarificatory amendments and directed the Income-tax Officer to conduct fresh assessments based on the Commissioner's directions, dismissing the assessee's appeals. en-us Wed, 14 Feb 1990 00:00:00 +0530 Mon, 21 Feb 2011 10:53:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66047 The Tribunal upheld the Commissioner's order for fresh assessments under section 143(3) of the Income-tax Act for the assessment years 1984-85 and 1985-86. The Tribunal found that the Commissioner's exercise of revisional jurisdiction was valid, considering discrepancies in the partnership deed and Form 12A declarations indicating potential benamidar partners. It was determined that section 40(b) applied to interest paid to individuals in a representative capacity. The Tribunal emphasized retrospective application of clarificatory amendments and directed the Income-tax Officer to conduct fresh assessments based on the Commissioner's directions, dismissing the assessee's appeals. Case-Laws Income Tax Wed, 14 Feb 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66047