https://www.taxtmi.com/caselaws?id=25492 The court upheld the inclusion of the subsidy received by the assessee as income, favoring the Revenue. The reassessment under section 147(b) was deemed valid, emphasizing that the Income-tax Officer acted within jurisdiction based on valid information despite opinions in a circular. The court directed parties to bear their own costs and forwarded the judgment to the Income-tax Appellate Tribunal, Cochin Bench. en-us Wed, 25 Mar 1987 00:00:00 +0530 Fri, 29 Jan 2010 10:45:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25492 The court upheld the inclusion of the subsidy received by the assessee as income, favoring the Revenue. The reassessment under section 147(b) was deemed valid, emphasizing that the Income-tax Officer acted within jurisdiction based on valid information despite opinions in a circular. The court directed parties to bear their own costs and forwarded the judgment to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Wed, 25 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25492