https://www.taxtmi.com/caselaws?id=152140 Reassessment under section 34(3) of the Income-tax Act, 1922 was held time-barred where the four-year period had expired before the amendment took effect. The amended second proviso did not revive a remedy already barred by limitation, and section 31 of the Income-tax (Amendment) Act, 1953 could not be relied on because the matter was not within the referred question and the necessary factual foundation was absent. The reassessment orders could not be sustained, and the appeals failed. en-us Wed, 12 Dec 1962 00:00:00 +0530 Wed, 07 Aug 2013 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152140 Reassessment under section 34(3) of the Income-tax Act, 1922 was held time-barred where the four-year period had expired before the amendment took effect. The amended second proviso did not revive a remedy already barred by limitation, and section 31 of the Income-tax (Amendment) Act, 1953 could not be relied on because the matter was not within the referred question and the necessary factual foundation was absent. The reassessment orders could not be sustained, and the appeals failed. Case-Laws Income Tax Wed, 12 Dec 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152140