https://www.taxtmi.com/caselaws?id=8803 The court upheld the validity of assessment orders under the Income-tax Act, 1961 for various years and the classification of companies into widely held and closely held categories. It found the classification reasonable, with a rational relation to preventing tax evasion and profit accumulation. The court determined that the classification did not violate Articles 14 and 19(1)(c) and (f) of the Constitution, emphasizing the legislature's discretion in taxation matters. A separate judgment directed the disposal of an application for rectification concerning specific errors in an assessment order. en-us Fri, 10 Mar 1972 00:00:00 +0530 Thu, 04 Jun 2009 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8803 The court upheld the validity of assessment orders under the Income-tax Act, 1961 for various years and the classification of companies into widely held and closely held categories. It found the classification reasonable, with a rational relation to preventing tax evasion and profit accumulation. The court determined that the classification did not violate Articles 14 and 19(1)(c) and (f) of the Constitution, emphasizing the legislature's discretion in taxation matters. A separate judgment directed the disposal of an application for rectification concerning specific errors in an assessment order. Case-Laws Income Tax Fri, 10 Mar 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8803