https://www.taxtmi.com/caselaws?id=49642 Statutory saving clauses were construed to preserve the power to initiate reassessment under section 34 of the Indian Income-tax Act, 1922. The saving in section 13(1) of the Finance Act, 1950, was read broadly because levy, assessment and collection of income-tax were held to include reassessment proceedings, and the prior financial agreement did not invalidate them. The Mysore saving provisions were also held to keep the former Indian Act alive for income chargeable before 1 July 1948 through assessment and determination of tax, with assessment including reassessment. Reassessment notices and orders were therefore within jurisdiction. en-us Mon, 28 Apr 1958 00:00:00 +0530 Fri, 05 Sep 2014 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49642 Statutory saving clauses were construed to preserve the power to initiate reassessment under section 34 of the Indian Income-tax Act, 1922. The saving in section 13(1) of the Finance Act, 1950, was read broadly because levy, assessment and collection of income-tax were held to include reassessment proceedings, and the prior financial agreement did not invalidate them. The Mysore saving provisions were also held to keep the former Indian Act alive for income chargeable before 1 July 1948 through assessment and determination of tax, with assessment including reassessment. Reassessment notices and orders were therefore within jurisdiction. Case-Laws Income Tax Mon, 28 Apr 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49642