https://www.taxtmi.com/caselaws?id=24250 The High Court of PUNJAB AND HARYANA addressed a case involving assessments under sections 143(1) and 147 of the Income-tax Act, 1961. The court found the assessment completed on September 4, 1979, after issuing a notice under section 147(b) read with section 148, to be time-barred. It emphasized the distinct nature of assessments under sections 143 and 147, ruling that the assessment in question could not be considered within the time limit, as it was deemed an assessment under section 143(3). The court also rejected the Revenue's plea regarding the validity of the draft assessment, ultimately ruling in favor of the assessee and disposing of the reference without costs. en-us Tue, 31 Jan 1989 00:00:00 +0530 Mon, 18 Jan 2010 17:25:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24250 The High Court of PUNJAB AND HARYANA addressed a case involving assessments under sections 143(1) and 147 of the Income-tax Act, 1961. The court found the assessment completed on September 4, 1979, after issuing a notice under section 147(b) read with section 148, to be time-barred. It emphasized the distinct nature of assessments under sections 143 and 147, ruling that the assessment in question could not be considered within the time limit, as it was deemed an assessment under section 143(3). The court also rejected the Revenue's plea regarding the validity of the draft assessment, ultimately ruling in favor of the assessee and disposing of the reference without costs. Case-Laws Income Tax Tue, 31 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24250