1972 (2) TMI 27

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....hich is a private limited company, was assessed to income-tax for the assessment year 1966-67. In computing the total income the assessee was granted development rebate in respect of some machinery which had been installed by it in the calendar year 1964. The assessee had also claimed depreciation on certain assets including land. Later on, the Supreme Court in a case, Commissioner of Income-tax v....

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....he Act on April 14, 1971, treating it as a case of rectification of mistake. He finally passed an order under that section on September 10, 1971, withdrawing the development rebate which had been allowed to the assessee in the original assessment order after overruling the assessee's contention that the order was timebarred. The present petition is directed against that order. The original assess....

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....e original assessment order does not merge into an order passed under section 148. Where reassessment is made under section 148 (corresponding to section 34 of the Indian Income-tax Act, 1922), the Income-tax Officer's jurisdiction is confined to the income which had escaped assessment and does not extend to revising, reopening and reconsidering the whole assessment. See Kashi Nath Bagla v. Commis....