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1 - 3 of 3 (0.77 seconds)The Commissioner Of Income-Tax, Bombay ... vs The Ahmedabad New Cotton Mills Company ... on 4 November, 1929
In support of his contention he relied upon a decision of the Privy Council in the case of commissioner of Income-tax v. Ahmedabad New Cotton Mills Co., Ltd., and pointed out that the bar of limitation which was regarded by the Tribunal as an insuperable difficulty, did not arise at all in the instant case inasmuch as the reassessment that was made by the Income-tax Officer was for the assessment year 1959-60, and it was in respect of the opening stock of that very assessment year that an adjustment on account of under-valuation of the opening stock was sought by the assessee. It is not possible to accept this contention of Mr. Patil for the reasons we shall presently indicate.
Section 66 in Income Tax Rules, 1962 [Entire Act]
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