https://www.taxtmi.com/caselaws?id=17309 The court held that the Tribunal's direction to reconsider the exemption under Section 11 in reassessment proceedings was illegal as it disregarded the finality of the original assessments and exceeded the statutory limits of Section 147. The court ruled against the assessee and in favor of the Revenue, emphasizing that reassessment proceedings should only address escaped income and not revisit settled issues from the original assessments. en-us Wed, 31 Jul 1996 00:00:00 +0530 Mon, 21 Sep 2009 14:00:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17309 The court held that the Tribunal's direction to reconsider the exemption under Section 11 in reassessment proceedings was illegal as it disregarded the finality of the original assessments and exceeded the statutory limits of Section 147. The court ruled against the assessee and in favor of the Revenue, emphasizing that reassessment proceedings should only address escaped income and not revisit settled issues from the original assessments. Case-Laws Income Tax Wed, 31 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17309