1971 (11) TMI 21

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....d of ten years from its owners by lease-deed dated, 21st October, 1964. Inter alia, the petitioner was obliged to pay a monthly rent to the owners in consideration of the lease obtained by him. In the year 1965-66 the petitioner claimed a sum of Rs. 13,364 amongst others as revenue expenditure though this represented the annual rent paid by him to the landlords. This was accepted by the Income-tax....

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....k a different view for the later year or years cannot assume jurisdiction to issue a notice under section 147 of the Income-tax Act to reopen a closed assessment as if there was an escapement in it. This is opposed by the revenue on the ground that the respondent has jurisdiction to issue the notice and a writ of prohibition cannot issue at this stage as the petitioner cannot say that the responde....