https://www.taxtmi.com/caselaws?id=9275 Finality of an income-tax assessment did not, by itself, prevent recomputation of total income for determining chargeable profits under the Super Profits Tax Act, 1963. The court held that section 2(5), read with section 7, permitted the assessing authority to make a fresh computation where necessary, and an earlier income-tax computation was not immutable merely because the assessment had become final. An erroneous or mistaken computation could therefore be revised for super profits tax purposes. The assessee's deduction claim was not decided on merits and remained open for determination in the appropriate proceedings. en-us Mon, 22 Jul 1974 00:00:00 +0530 Sun, 21 Jun 2009 17:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9275 Finality of an income-tax assessment did not, by itself, prevent recomputation of total income for determining chargeable profits under the Super Profits Tax Act, 1963. The court held that section 2(5), read with section 7, permitted the assessing authority to make a fresh computation where necessary, and an earlier income-tax computation was not immutable merely because the assessment had become final. An erroneous or mistaken computation could therefore be revised for super profits tax purposes. The assessee's deduction claim was not decided on merits and remained open for determination in the appropriate proceedings. Case-Laws Income Tax Mon, 22 Jul 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9275