https://www.taxtmi.com/caselaws?id=59789 The reassessment under section 147 read with section 150(1) was deemed valid by the Tribunal as it was in consequence of their previous finding. However, the reassessment was found to be barred by time under section 150(2) since the original assessment exceeded the prescribed period. The notice under section 147(a) without mentioning the status was not specifically addressed due to the decision on section 150(2). Other contentions regarding the inclusion of a sum, re-computation of income, and levy of interest were left unresolved as the reassessment was quashed. The Tribunal allowed the appeal, stating that the reassessment could not stand. en-us Mon, 25 Aug 1980 00:00:00 +0530 Sat, 01 Jan 2011 12:04:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59789 The reassessment under section 147 read with section 150(1) was deemed valid by the Tribunal as it was in consequence of their previous finding. However, the reassessment was found to be barred by time under section 150(2) since the original assessment exceeded the prescribed period. The notice under section 147(a) without mentioning the status was not specifically addressed due to the decision on section 150(2). Other contentions regarding the inclusion of a sum, re-computation of income, and levy of interest were left unresolved as the reassessment was quashed. The Tribunal allowed the appeal, stating that the reassessment could not stand. Case-Laws Income Tax Mon, 25 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59789