https://www.taxtmi.com/caselaws?id=239035 Reassessment under section 148 was treated as valid because the recorded and communicated reasons satisfied the jurisdictional requirements despite minor differences in wording. The assessee was held not to qualify as a local authority under the narrowed post-amendment definition in section 10(20), and Article 289 immunity was unavailable because it remained a distinct legal entity rather than the State. On the receipts issue, gross commission and bank interest were not to be taxed mechanically; taxability must be examined by reference to the governing statutory scheme and allowable expenditure, with surplus-based computation applied in principle and the matter remanded for fresh determination. en-us Fri, 31 May 2013 00:00:00 +0530 Tue, 29 Oct 2013 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239035 Reassessment under section 148 was treated as valid because the recorded and communicated reasons satisfied the jurisdictional requirements despite minor differences in wording. The assessee was held not to qualify as a local authority under the narrowed post-amendment definition in section 10(20), and Article 289 immunity was unavailable because it remained a distinct legal entity rather than the State. On the receipts issue, gross commission and bank interest were not to be taxed mechanically; taxability must be examined by reference to the governing statutory scheme and allowable expenditure, with surplus-based computation applied in principle and the matter remanded for fresh determination. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239035