https://www.taxtmi.com/caselaws?id=11675 The High Court of MADRAS interpreted section 144B of the Income-tax Act, 1961, regarding income variation by an assessee. The case questioned if the assessment was time-barred. The assessee disputed the assessment's timing, arguing the addition to income was under Rs. 1,00,000. The Court upheld the assessment, citing the extension provision under section 153. It affirmed that substantial income variations require an Inspecting Assistant Commissioner's reference. The Court validated the assessment under section 144B, disregarding time spent seeking directions. The ruling favored the Revenue, emphasizing compliance with statutory tax assessment procedures. en-us Tue, 02 Jul 2002 00:00:00 +0530 Fri, 05 Feb 2010 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11675 The High Court of MADRAS interpreted section 144B of the Income-tax Act, 1961, regarding income variation by an assessee. The case questioned if the assessment was time-barred. The assessee disputed the assessment's timing, arguing the addition to income was under Rs. 1,00,000. The Court upheld the assessment, citing the extension provision under section 153. It affirmed that substantial income variations require an Inspecting Assistant Commissioner's reference. The Court validated the assessment under section 144B, disregarding time spent seeking directions. The ruling favored the Revenue, emphasizing compliance with statutory tax assessment procedures. Case-Laws Income Tax Tue, 02 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11675