https://www.taxtmi.com/caselaws?id=23502 The High Court upheld the validity of the reassessment under section 147(b) for the assessment year 1973-74, affirming the priority of unabsorbed depreciation and development rebate over the deduction under section 80J. The court found the reassessment based on the audit report proper, rejecting the assessee's challenge and ruling in favor of the Revenue. en-us Thu, 16 Nov 1989 00:00:00 +0530 Sat, 19 Dec 2009 17:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23502 The High Court upheld the validity of the reassessment under section 147(b) for the assessment year 1973-74, affirming the priority of unabsorbed depreciation and development rebate over the deduction under section 80J. The court found the reassessment based on the audit report proper, rejecting the assessee's challenge and ruling in favor of the Revenue. Case-Laws Income Tax Thu, 16 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23502