https://www.taxtmi.com/caselaws?id=202708 The High Court held that the Assessing Officer was justified in revising the respondent's assessment for the year 1979-80 within the prescribed time limit under section 150(2) of the Income-tax Act, 1961. The original assessment for 1979-80 was conditional and subject to modification based on the outcome of the proceedings against the assessment for 1977-78. The High Court ruled that the respondent, having voluntarily offered the income for assessment for 1979-80, could not contest the liability on grounds of limitation after doing so. Consequently, the High Court allowed the Departmental appeal, overturning the Tribunal's decision and reinstating the revised assessment sustained in the first appeal. en-us Tue, 17 Nov 2009 00:00:00 +0530 Mon, 24 Dec 2012 17:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202708 The High Court held that the Assessing Officer was justified in revising the respondent's assessment for the year 1979-80 within the prescribed time limit under section 150(2) of the Income-tax Act, 1961. The original assessment for 1979-80 was conditional and subject to modification based on the outcome of the proceedings against the assessment for 1977-78. The High Court ruled that the respondent, having voluntarily offered the income for assessment for 1979-80, could not contest the liability on grounds of limitation after doing so. Consequently, the High Court allowed the Departmental appeal, overturning the Tribunal's decision and reinstating the revised assessment sustained in the first appeal. Case-Laws Income Tax Tue, 17 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202708