https://www.taxtmi.com/caselaws?id=169526 Completed assessments under the Income-tax Act, 1922 remained valid until set aside through the statute's exclusive machinery; a later favourable decision in another matter did not render earlier assessments a nullity. Section 33 was an administrative revision power for supervisory use and did not give the assessee an independent, enforceable right to reopen assessments or obtain refund on equitable grounds. A reference under Section 66(2) lay only where the Section 33 order was prejudicial, meaning it worsened the assessee's position; a refusal to reopen without enhancing liability was not prejudicial. The statutory scheme was treated as exhaustive, and the refund and reopening claim failed. en-us Tue, 14 Oct 1947 00:00:00 +0530 Sat, 25 Apr 2015 10:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=169526 Completed assessments under the Income-tax Act, 1922 remained valid until set aside through the statute's exclusive machinery; a later favourable decision in another matter did not render earlier assessments a nullity. Section 33 was an administrative revision power for supervisory use and did not give the assessee an independent, enforceable right to reopen assessments or obtain refund on equitable grounds. A reference under Section 66(2) lay only where the Section 33 order was prejudicial, meaning it worsened the assessee's position; a refusal to reopen without enhancing liability was not prejudicial. The statutory scheme was treated as exhaustive, and the refund and reopening claim failed. Case-Laws Income Tax Tue, 14 Oct 1947 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=169526