https://www.taxtmi.com/caselaws?id=191123 The omission of section 35(10) of the Indian Income-tax Act, 1922, by the Finance Act, 1959, did not by itself extinguish liabilities that had already accrued when dividends were declared out of profits previously allowed rebate. Because the provision was not shown to be a temporary enactment and there was no contrary legislative intention, section 6 of the General Clauses Act, 1897, preserved the accrued liability and the power of the Income-tax Officer to recompute the assessment. The authority to act remained available so long as proceedings were initiated within the prescribed four-year period, and the reassessment action was therefore valid. en-us Tue, 15 Jan 1963 00:00:00 +0530 Tue, 21 Mar 2017 16:53:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191123 The omission of section 35(10) of the Indian Income-tax Act, 1922, by the Finance Act, 1959, did not by itself extinguish liabilities that had already accrued when dividends were declared out of profits previously allowed rebate. Because the provision was not shown to be a temporary enactment and there was no contrary legislative intention, section 6 of the General Clauses Act, 1897, preserved the accrued liability and the power of the Income-tax Officer to recompute the assessment. The authority to act remained available so long as proceedings were initiated within the prescribed four-year period, and the reassessment action was therefore valid. Case-Laws Income Tax Tue, 15 Jan 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191123