https://www.taxtmi.com/caselaws?id=287234 The Supreme Court upheld the validity of reassessment proceedings initiated by the Income Tax Officer under sections 147 and 148 of the Income-tax Act. The Court confirmed that the Income Tax Officer had jurisdiction to reassess income based on new information, despite the possibility of obtaining it during the original assessment. Additionally, the Court ruled that once an assessment is made on either a non-resident assessee or its agent, no further assessment can be conducted on the other. As the earlier proceedings against the agent were time-barred, the decision to proceed directly against the assessee for the two assessment years was deemed lawful. en-us Wed, 26 Apr 1989 00:00:00 +0530 Sat, 04 Apr 2020 11:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287234 The Supreme Court upheld the validity of reassessment proceedings initiated by the Income Tax Officer under sections 147 and 148 of the Income-tax Act. The Court confirmed that the Income Tax Officer had jurisdiction to reassess income based on new information, despite the possibility of obtaining it during the original assessment. Additionally, the Court ruled that once an assessment is made on either a non-resident assessee or its agent, no further assessment can be conducted on the other. As the earlier proceedings against the agent were time-barred, the decision to proceed directly against the assessee for the two assessment years was deemed lawful. Case-Laws Income Tax Wed, 26 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287234