https://www.taxtmi.com/caselaws?id=31538 The High Court dismissed the appeals challenging the reopening of assessments for the years 1983-84 to 1986-87 under Section 150 of the Income-tax Act. Relying on the Supreme Court decision in K.M. Sharma v. ITO, the Court held the reassessments were barred by limitation and null and void. The case involved taxability of compensation and interest amounts, with the Court emphasizing restrictions on reopening assessments that had become final. The judgment reiterated the need for retrospective application of amended provisions to prevent upsetting proceedings that had concluded. en-us Mon, 18 Jun 2007 00:00:00 +0530 Sat, 22 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31538 The High Court dismissed the appeals challenging the reopening of assessments for the years 1983-84 to 1986-87 under Section 150 of the Income-tax Act. Relying on the Supreme Court decision in K.M. Sharma v. ITO, the Court held the reassessments were barred by limitation and null and void. The case involved taxability of compensation and interest amounts, with the Court emphasizing restrictions on reopening assessments that had become final. The judgment reiterated the need for retrospective application of amended provisions to prevent upsetting proceedings that had concluded. Case-Laws Income Tax Mon, 18 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31538