https://www.taxtmi.com/caselaws?id=6941 The High Court clarified that the Income-tax Officer should have used section 155, not section 154, to rectify the share income from partnership firms. Section 155 does not permit changing the character of income in completed assessments, unlike section 154. The Court ruled in favor of the assessee, stating that treating the share income as unearned was not permissible under section 155. The judgment emphasized the correct application of these sections in amending assessment orders, ultimately favoring the assessee. en-us Thu, 22 Sep 1966 00:00:00 +0530 Sat, 07 Feb 2009 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6941 The High Court clarified that the Income-tax Officer should have used section 155, not section 154, to rectify the share income from partnership firms. Section 155 does not permit changing the character of income in completed assessments, unlike section 154. The Court ruled in favor of the assessee, stating that treating the share income as unearned was not permissible under section 155. The judgment emphasized the correct application of these sections in amending assessment orders, ultimately favoring the assessee. Case-Laws Income Tax Thu, 22 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6941