https://www.taxtmi.com/caselaws?id=8316 The appeal was dismissed, with each party ordered to bear its own costs. The court determined that the Income-tax Officer (ITO) had the jurisdiction to issue the notice under sections 147 and 148. The revised return filed by the appellant, disclosing higher profits, justified the reopening of the assessment. The court emphasized that the ITO must consider a revised return and make a fresh assessment accordingly, leading to the appellant being unable to challenge the notice under section 147 for lack of jurisdiction. en-us Fri, 21 May 1971 00:00:00 +0530 Thu, 09 Apr 2009 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8316 The appeal was dismissed, with each party ordered to bear its own costs. The court determined that the Income-tax Officer (ITO) had the jurisdiction to issue the notice under sections 147 and 148. The revised return filed by the appellant, disclosing higher profits, justified the reopening of the assessment. The court emphasized that the ITO must consider a revised return and make a fresh assessment accordingly, leading to the appellant being unable to challenge the notice under section 147 for lack of jurisdiction. Case-Laws Income Tax Fri, 21 May 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8316