https://www.taxtmi.com/caselaws?id=38677 The High Court of Calcutta ruled in favor of the revenue for the assessment year 1960-61, upholding the validity of reassessing business income under sections 147 and 148 of the Income-tax Act, 1961. The court determined that the subsequent tax officer had the authority to recompute the business income that had escaped assessment due to an error by the previous tax officer. The reassessment was deemed valid, and no costs were awarded in this case. en-us Tue, 03 Jun 1975 00:00:00 +0530 Thu, 08 Apr 2010 12:31:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38677 The High Court of Calcutta ruled in favor of the revenue for the assessment year 1960-61, upholding the validity of reassessing business income under sections 147 and 148 of the Income-tax Act, 1961. The court determined that the subsequent tax officer had the authority to recompute the business income that had escaped assessment due to an error by the previous tax officer. The reassessment was deemed valid, and no costs were awarded in this case. Case-Laws Income Tax Tue, 03 Jun 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38677