https://www.taxtmi.com/caselaws?id=22966 The High Court held that the variation in the loss claimed by the assessee, leading to the Income-tax Officer's decision to disallow part of it, constituted a variation in the returned income justifying the application of section 144B(1). The Court agreed that the assessment was not time-barred, as the Income-tax Officer properly exercised jurisdiction under section 144B(1). Consequently, the High Court ruled against the assessee, in favor of the Revenue, with a unanimous decision by the judges and no order as to costs. en-us Tue, 06 Jun 1989 00:00:00 +0530 Tue, 15 Dec 2009 16:06:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22966 The High Court held that the variation in the loss claimed by the assessee, leading to the Income-tax Officer's decision to disallow part of it, constituted a variation in the returned income justifying the application of section 144B(1). The Court agreed that the assessment was not time-barred, as the Income-tax Officer properly exercised jurisdiction under section 144B(1). Consequently, the High Court ruled against the assessee, in favor of the Revenue, with a unanimous decision by the judges and no order as to costs. Case-Laws Income Tax Tue, 06 Jun 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22966