https://www.taxtmi.com/caselaws?id=38055 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. It was determined that the assessee had the right to exercise the option under clause (b) of section 3(1) of the Income Tax Act, even at a later stage in the proceedings. The judgment directed the parties to bear their respective costs, and a copy of the judgment was to be forwarded to the Tribunal for further action. en-us Fri, 23 Dec 1977 00:00:00 +0530 Fri, 02 Apr 2010 17:38:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38055 The High Court upheld the Tribunal's decision, ruling in favor of the assessee. It was determined that the assessee had the right to exercise the option under clause (b) of section 3(1) of the Income Tax Act, even at a later stage in the proceedings. The judgment directed the parties to bear their respective costs, and a copy of the judgment was to be forwarded to the Tribunal for further action. Case-Laws Income Tax Fri, 23 Dec 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38055