https://www.taxtmi.com/caselaws?id=39955 Section 10A of the Excess Profits Tax Act was held to be incidental to a valid, pending assessment or reassessment proceeding and not a standalone jurisdiction to initiate separate adjustment proceedings. The power to counteract avoidance or reduction of excess profits tax liability could be exercised only within an assessment or reassessment already validly commenced. The Court could not finally decide, on the materials before it, whether the section 10A order had been made in a proceeding validly opened under section 15, so the validity of the section 15 reopening was left unresolved pending a supplementary statement of facts. en-us Thu, 21 Jan 1971 00:00:00 +0530 Fri, 08 Aug 2014 00:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39955 Section 10A of the Excess Profits Tax Act was held to be incidental to a valid, pending assessment or reassessment proceeding and not a standalone jurisdiction to initiate separate adjustment proceedings. The power to counteract avoidance or reduction of excess profits tax liability could be exercised only within an assessment or reassessment already validly commenced. The Court could not finally decide, on the materials before it, whether the section 10A order had been made in a proceeding validly opened under section 15, so the validity of the section 15 reopening was left unresolved pending a supplementary statement of facts. Case-Laws Income Tax Thu, 21 Jan 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39955