https://www.taxtmi.com/caselaws?id=19807 The High Court held that the Income-tax Officer lacked jurisdiction to initiate reassessment proceedings under section 147(b) based on section 40A(7) of the Income-tax Act, as the Tribunal's findings were binding. The Court ruled in favor of the assessee, stating that reassessment was unjustified. The second question regarding the applicability of section 40A(7) was not addressed due to the resolution of the first issue. en-us Thu, 25 Nov 1993 00:00:00 +0530 Mon, 09 Nov 2009 17:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19807 The High Court held that the Income-tax Officer lacked jurisdiction to initiate reassessment proceedings under section 147(b) based on section 40A(7) of the Income-tax Act, as the Tribunal's findings were binding. The Court ruled in favor of the assessee, stating that reassessment was unjustified. The second question regarding the applicability of section 40A(7) was not addressed due to the resolution of the first issue. Case-Laws Income Tax Thu, 25 Nov 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19807