https://www.taxtmi.com/caselaws?id=57938 The Tribunal held that income must be computed year-wise unless impossible, rejecting the argument that income should be assessed only after project completion. The IAC was found to exceed jurisdiction by enhancing income without proper opportunity to the assessee. The second draft assessment order for 1978-79 was deemed invalid due to exclusion of section 144A after a reference under section 144B. Assessment for 1977-78 was cancelled, while for 1978-79, income was computed at Rs. 8,27,064. The appeal for 1977-78 was allowed, department cross-objections dismissed, and departmental appeal for 1978-79 allowed. en-us Tue, 12 Apr 1983 00:00:00 +0530 Wed, 15 Dec 2010 15:21:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57938 The Tribunal held that income must be computed year-wise unless impossible, rejecting the argument that income should be assessed only after project completion. The IAC was found to exceed jurisdiction by enhancing income without proper opportunity to the assessee. The second draft assessment order for 1978-79 was deemed invalid due to exclusion of section 144A after a reference under section 144B. Assessment for 1977-78 was cancelled, while for 1978-79, income was computed at Rs. 8,27,064. The appeal for 1977-78 was allowed, department cross-objections dismissed, and departmental appeal for 1978-79 allowed. Case-Laws Income Tax Tue, 12 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57938