https://www.taxtmi.com/caselaws?id=49642 The Supreme Court overturned the High Court's decision, ruling that the Income-tax Officer had jurisdiction to issue a notice under section 34 of the Indian Income-tax Act, 1922, for re-assessment purposes. The Court interpreted the saving provisions in the Mysore Acts and the Finance Act, 1950, to preserve the applicability of section 34. Additionally, the Court held that section 13(1) of the Finance Act, 1950, encompassed re-assessment proceedings. The judgment clarified the period of limitation for re-assessment and dismissed the respondent's writ petitions, awarding costs to the appellant. 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 The Supreme Court overturned the High Court's decision, ruling that the Income-tax Officer had jurisdiction to issue a notice under section 34 of the Indian Income-tax Act, 1922, for re-assessment purposes. The Court interpreted the saving provisions in the Mysore Acts and the Finance Act, 1950, to preserve the applicability of section 34. Additionally, the Court held that section 13(1) of the Finance Act, 1950, encompassed re-assessment proceedings. The judgment clarified the period of limitation for re-assessment and dismissed the respondent's writ petitions, awarding costs to the appellant. Case-Laws Income Tax Mon, 28 Apr 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49642