Assessing Officer Cannot Reassess Finalized Tax Year; Section 292B Offers No Support to Revenue Authority.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Power of the AO to pass the Order - AO has no power to frame the assessment in respect of an AY which has already been finalised and concluded. The language of Section 292B of the Act also offers no assistance to the Revenue - HC....