https://www.taxtmi.com/caselaws?id=19733 The court ruled in favor of the Revenue, holding that the reassessment proceedings initiated by the Income-tax Officer under section 147 of the Income Tax Act were valid. The court emphasized that the jurisdiction to proceed with reassessment is established when the notice is issued within the limitation period, and service of notice is a prerequisite for making the reassessment order. As the notice under section 148 was issued within the prescribed limitation period, the court found that the initiation of reassessment proceedings was not barred by limitation. Therefore, the Tribunal's decision to set aside the reassessment order was deemed erroneous. en-us Thu, 10 Nov 1994 00:00:00 +0530 Mon, 09 Nov 2009 13:12:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19733 The court ruled in favor of the Revenue, holding that the reassessment proceedings initiated by the Income-tax Officer under section 147 of the Income Tax Act were valid. The court emphasized that the jurisdiction to proceed with reassessment is established when the notice is issued within the limitation period, and service of notice is a prerequisite for making the reassessment order. As the notice under section 148 was issued within the prescribed limitation period, the court found that the initiation of reassessment proceedings was not barred by limitation. Therefore, the Tribunal's decision to set aside the reassessment order was deemed erroneous. Case-Laws Income Tax Thu, 10 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19733