https://www.taxtmi.com/caselaws?id=9818 The court upheld the validity of the notice issued under section 148 on March 28, 1996, rejecting the assessee's argument based on the retrospective amendment. The assessment order dated March 26, 1997, was deemed valid under section 153(2) as the proceedings were initiated within the prescribed time frame. The additions regarding inflation of cash balance and unaccounted sale of tins were sustained, with the court finding the Tribunal's interference unjustified. The court dismissed the assessee's appeal and allowed the Revenue's appeal, upholding the Assessing Officer's order as modified by the Commissioner (Appeals). en-us Fri, 20 Jan 2006 00:00:00 +0530 Mon, 22 Jan 2018 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9818 The court upheld the validity of the notice issued under section 148 on March 28, 1996, rejecting the assessee's argument based on the retrospective amendment. The assessment order dated March 26, 1997, was deemed valid under section 153(2) as the proceedings were initiated within the prescribed time frame. The additions regarding inflation of cash balance and unaccounted sale of tins were sustained, with the court finding the Tribunal's interference unjustified. The court dismissed the assessee's appeal and allowed the Revenue's appeal, upholding the Assessing Officer's order as modified by the Commissioner (Appeals). Case-Laws Income Tax Fri, 20 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9818