https://www.taxtmi.com/caselaws?id=49691 The Supreme Court upheld the validity of the notice issued under section 34 of the Indian Income-tax Act and confirmed that the income chargeable to tax had indeed escaped assessment for the year 1939-40. The Court held that the retrospective application of the Finance Act of 1939 to Chota Nagpur meant that the income was chargeable to tax, necessitating fresh assessment proceedings. Consequently, the appeal was dismissed with costs. en-us Mon, 18 Apr 1955 00:00:00 +0530 Tue, 09 Sep 2014 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49691 The Supreme Court upheld the validity of the notice issued under section 34 of the Indian Income-tax Act and confirmed that the income chargeable to tax had indeed escaped assessment for the year 1939-40. The Court held that the retrospective application of the Finance Act of 1939 to Chota Nagpur meant that the income was chargeable to tax, necessitating fresh assessment proceedings. Consequently, the appeal was dismissed with costs. Case-Laws Income Tax Mon, 18 Apr 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49691