https://www.taxtmi.com/caselaws?id=27706 Standing crops carried from a composition year to a subsequent regular assessment year may be treated as opening stock where their value was not taxed during the composition year. The deduction of their value was therefore disallowable, and the Commissioner's addition was sustained. The reassessment provision concerning the year preceding an application for composition did not govern this revision. Revisional jurisdiction was exercised within the applicable three-year limitation period, calculated from the date of the assessment order revised. The assessment was validly revised and the taxpayer's challenge to the tax demand failed. en-us Fri, 07 Oct 1983 00:00:00 +0530 Mon, 15 Feb 2010 15:21:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27706 Standing crops carried from a composition year to a subsequent regular assessment year may be treated as opening stock where their value was not taxed during the composition year. The deduction of their value was therefore disallowable, and the Commissioner's addition was sustained. The reassessment provision concerning the year preceding an application for composition did not govern this revision. Revisional jurisdiction was exercised within the applicable three-year limitation period, calculated from the date of the assessment order revised. The assessment was validly revised and the taxpayer's challenge to the tax demand failed. Case-Laws Income Tax Fri, 07 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27706