https://www.taxtmi.com/caselaws?id=35703 The Companies (Profits) Surtax Act, 1964 was held not to bar an assessment for limitation where the statute prescribed no period for completion of assessment or for issuing notice under section 6. Section 8(b), dealing with profits escaping assessment within four years, did not apply because a return had already been filed and the assessment remained pending, so no escapement had occurred. The court also rejected importing a "reasonable time" limitation by implication, since the Act itself contained none. The assessment was therefore within time and the issue was answered in favour of the Revenue. en-us Thu, 23 Apr 1981 00:00:00 +0530 Tue, 16 Mar 2010 12:05:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35703 The Companies (Profits) Surtax Act, 1964 was held not to bar an assessment for limitation where the statute prescribed no period for completion of assessment or for issuing notice under section 6. Section 8(b), dealing with profits escaping assessment within four years, did not apply because a return had already been filed and the assessment remained pending, so no escapement had occurred. The court also rejected importing a "reasonable time" limitation by implication, since the Act itself contained none. The assessment was therefore within time and the issue was answered in favour of the Revenue. Case-Laws Income Tax Thu, 23 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35703