https://www.taxtmi.com/caselaws?id=24491 The court affirmed that a reference under section 144B does not impact the Commissioner's jurisdiction under section 263. It also held that the pendency of an appeal against an assessment order does not oust the Commissioner's jurisdiction. Additionally, the mere reopening of an assessment under section 147 does not affect the Commissioner's authority under section 263. The court determined that a sum credited to a specific fund constituted taxable income as it was an application of income, not a diversion. The assessee was found liable for the amount credited to the fund. en-us Fri, 12 Aug 1988 00:00:00 +0530 Wed, 20 Jan 2010 15:36:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24491 The court affirmed that a reference under section 144B does not impact the Commissioner's jurisdiction under section 263. It also held that the pendency of an appeal against an assessment order does not oust the Commissioner's jurisdiction. Additionally, the mere reopening of an assessment under section 147 does not affect the Commissioner's authority under section 263. The court determined that a sum credited to a specific fund constituted taxable income as it was an application of income, not a diversion. The assessee was found liable for the amount credited to the fund. Case-Laws Income Tax Fri, 12 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24491