https://www.taxtmi.com/caselaws?id=22389 The High Court held that the assessment made on October 13, 1980, for the assessment year 1977-78 was barred by limitation under section 153(1)(a) of the Income-tax Act, 1961. The Court emphasized that the satisfaction of concealment by the Income-tax Officer within the normal assessment period was crucial, and the initiation of penalty proceedings did not impact the assessment order if satisfaction was established earlier. Therefore, ruling in favor of the assessee, the Court upheld the Tribunal's decision that the assessment was indeed barred by limitation. en-us Mon, 05 Aug 1991 00:00:00 +0530 Wed, 09 Dec 2009 16:27:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22389 The High Court held that the assessment made on October 13, 1980, for the assessment year 1977-78 was barred by limitation under section 153(1)(a) of the Income-tax Act, 1961. The Court emphasized that the satisfaction of concealment by the Income-tax Officer within the normal assessment period was crucial, and the initiation of penalty proceedings did not impact the assessment order if satisfaction was established earlier. Therefore, ruling in favor of the assessee, the Court upheld the Tribunal's decision that the assessment was indeed barred by limitation. Case-Laws Income Tax Mon, 05 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22389