https://www.taxtmi.com/caselaws?id=5039 Excessive rebate of super-tax could amount to income being assessed at too low a rate for section 34(1)(b) of the Indian Income-tax Act, 1922, because the phrase covers not only the tax fraction applied to income but also the statutory measure used to compute liability, including rebate and its reduction under the Finance Act, 1956. On that construction, reassessment jurisdiction could be attracted where the rebate was granted without the required reduction. However, the record did not permit a final ruling on the validity of the notice or the precise basis of the reassessment, so the matter was remitted for examination of those points. en-us Tue, 25 Apr 1967 00:00:00 +0530 Thu, 09 Feb 2017 16:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5039 Excessive rebate of super-tax could amount to income being assessed at too low a rate for section 34(1)(b) of the Indian Income-tax Act, 1922, because the phrase covers not only the tax fraction applied to income but also the statutory measure used to compute liability, including rebate and its reduction under the Finance Act, 1956. On that construction, reassessment jurisdiction could be attracted where the rebate was granted without the required reduction. However, the record did not permit a final ruling on the validity of the notice or the precise basis of the reassessment, so the matter was remitted for examination of those points. Case-Laws Income Tax Tue, 25 Apr 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5039