https://www.taxtmi.com/caselaws?id=21000 The Bombay High Court ruled in a tax case concerning the interpretation of section 153(1)(b) of the Income-tax Act, 1961 for assessment years 1972-73 and 1973-74. The court held that the Income-tax Officer failed to establish concealment within the normal limitation period, leading to the cancellation of assessments. Citing precedent, the court emphasized the necessity of proving concealment within the prescribed timeframe for valid assessments. The High Court's decision favored the assessee, concluding that the extended time-limit was not applicable due to the absence of findings on concealment within the specified period. en-us Thu, 28 Jan 1993 00:00:00 +0530 Wed, 18 Nov 2009 16:07:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21000 The Bombay High Court ruled in a tax case concerning the interpretation of section 153(1)(b) of the Income-tax Act, 1961 for assessment years 1972-73 and 1973-74. The court held that the Income-tax Officer failed to establish concealment within the normal limitation period, leading to the cancellation of assessments. Citing precedent, the court emphasized the necessity of proving concealment within the prescribed timeframe for valid assessments. The High Court's decision favored the assessee, concluding that the extended time-limit was not applicable due to the absence of findings on concealment within the specified period. Case-Laws Income Tax Thu, 28 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21000