https://www.taxtmi.com/caselaws?id=25049 The High Court held that the initiation of reassessment proceedings was valid based on the Tribunal's finding. However, the reassessment proceedings for the assessment year 1966-67 were deemed invalid as they were initiated beyond the time limits specified in section 149(1)(b). The Court ruled in favor of the Revenue regarding the validity of the initiation of reassessment proceedings but in favor of the assessee concerning the assessment for 1966-67. en-us Fri, 27 Nov 1987 00:00:00 +0530 Mon, 25 Jan 2010 10:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25049 The High Court held that the initiation of reassessment proceedings was valid based on the Tribunal's finding. However, the reassessment proceedings for the assessment year 1966-67 were deemed invalid as they were initiated beyond the time limits specified in section 149(1)(b). The Court ruled in favor of the Revenue regarding the validity of the initiation of reassessment proceedings but in favor of the assessee concerning the assessment for 1966-67. Case-Laws Income Tax Fri, 27 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25049