https://www.taxtmi.com/caselaws?id=24169 The court upheld the applicability of the extended limitation period under section 153(1)(b) of the Income-tax Act, 1961 for the assessment year 1972-73. The assessee's attempt to challenge the extended time limit was dismissed, with the court finding evidence of income concealment within the initial two-year limitation period. Legal precedents cited by both parties were considered, but the court ultimately ruled in favor of the Revenue, affirming the Tribunal's decision. The reference question regarding the limitation period was answered in the affirmative, and no costs were awarded to either party. en-us Wed, 05 Apr 1989 00:00:00 +0530 Mon, 18 Jan 2010 11:31:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24169 The court upheld the applicability of the extended limitation period under section 153(1)(b) of the Income-tax Act, 1961 for the assessment year 1972-73. The assessee's attempt to challenge the extended time limit was dismissed, with the court finding evidence of income concealment within the initial two-year limitation period. Legal precedents cited by both parties were considered, but the court ultimately ruled in favor of the Revenue, affirming the Tribunal's decision. The reference question regarding the limitation period was answered in the affirmative, and no costs were awarded to either party. Case-Laws Income Tax Wed, 05 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24169