https://www.taxtmi.com/caselaws?id=24880 A provisional assessment under the Companies (Profits) Surtax Act, 1964 is a summary exercise and cannot be used to decide disputed questions of law or fact or to ignore binding judicial authority; the Income-tax Officer must proceed on the returned figures unless the statute permits otherwise. The existence of discretionary revisional power under section 17 does not provide an efficacious alternate remedy barring writ jurisdiction under Article 226. On that basis, exclusions from capital and deductions that required resolution of controversy were held unjustified at the provisional stage, and the assessment was struck down. The costs order was modified so each party bore its own costs. en-us Mon, 16 Nov 1987 00:00:00 +0530 Fri, 22 Jan 2010 18:54:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24880 A provisional assessment under the Companies (Profits) Surtax Act, 1964 is a summary exercise and cannot be used to decide disputed questions of law or fact or to ignore binding judicial authority; the Income-tax Officer must proceed on the returned figures unless the statute permits otherwise. The existence of discretionary revisional power under section 17 does not provide an efficacious alternate remedy barring writ jurisdiction under Article 226. On that basis, exclusions from capital and deductions that required resolution of controversy were held unjustified at the provisional stage, and the assessment was struck down. The costs order was modified so each party bore its own costs. Case-Laws Income Tax Mon, 16 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24880