https://www.taxtmi.com/caselaws?id=5734 The Supreme Court upheld the decisions of the Tribunal and High Court regarding the jurisdiction of the Commissioner under section 263, carry forward of unabsorbed development rebate under section 33, carry forward of section 80J relief, and the existence of assessment year 1975-76. The Court emphasized that the Commissioner's power to revise orders must adhere to specific criteria outlined in the Income-tax Act. The judgment clarified that the assessment year is a fixed 12-month period starting on April 1 each year, irrespective of individual circumstances, for determining entitlement to carry forward rebates and deductions. en-us Tue, 23 Mar 1999 00:00:00 +0530 Thu, 27 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5734 The Supreme Court upheld the decisions of the Tribunal and High Court regarding the jurisdiction of the Commissioner under section 263, carry forward of unabsorbed development rebate under section 33, carry forward of section 80J relief, and the existence of assessment year 1975-76. The Court emphasized that the Commissioner's power to revise orders must adhere to specific criteria outlined in the Income-tax Act. The judgment clarified that the assessment year is a fixed 12-month period starting on April 1 each year, irrespective of individual circumstances, for determining entitlement to carry forward rebates and deductions. Case-Laws Income Tax Tue, 23 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5734