https://www.taxtmi.com/caselaws?id=22087 The court ruled in favor of the assessee, allowing a fresh claim of loss under section 32(1) in reassessment proceedings even if not raised in the original assessment. The court emphasized that reassessment permits the assessee to make claims not previously raised, aligning with the view that reassessment is akin to a fresh assessment. The decision was based on established precedent and prior judgments, leading to the discharge of the rule without costs awarded. en-us Wed, 22 Aug 1990 00:00:00 +0530 Mon, 07 Dec 2009 10:25:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22087 The court ruled in favor of the assessee, allowing a fresh claim of loss under section 32(1) in reassessment proceedings even if not raised in the original assessment. The court emphasized that reassessment permits the assessee to make claims not previously raised, aligning with the view that reassessment is akin to a fresh assessment. The decision was based on established precedent and prior judgments, leading to the discharge of the rule without costs awarded. Case-Laws Income Tax Wed, 22 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22087