https://www.taxtmi.com/caselaws?id=21603 The court held that the proceedings under section 147(b) of the Income-tax Act were not validly commenced as they were influenced by the findings of the Appellate Commissioner, rather than new information. Additionally, the court determined that the amount of Rs. 1,74,773 was not assessable in the assessment year 1975-76, as it related to a trading receipt from a prior year. Both issues were decided against the Revenue, and the reference was answered accordingly. en-us Mon, 03 Jun 1991 00:00:00 +0530 Wed, 25 Nov 2009 16:49:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21603 The court held that the proceedings under section 147(b) of the Income-tax Act were not validly commenced as they were influenced by the findings of the Appellate Commissioner, rather than new information. Additionally, the court determined that the amount of Rs. 1,74,773 was not assessable in the assessment year 1975-76, as it related to a trading receipt from a prior year. Both issues were decided against the Revenue, and the reference was answered accordingly. Case-Laws Income Tax Mon, 03 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21603