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1981 (5) TMI 1 - SC - Income Tax
Held that the making of an assessment against a declarant on his disclosure statement under s. 24 of the Finance (No. 2) Act, 1965, cannot deprive an ITO of jurisdiction to assess the same receipt in the hands of another person if, in a properly constituted assessment proceeding under the I.T. Act, the receipt can be regarded as the taxable income of such other person