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2010 (4) TMI 440 - MADRAS HIGH COURTReassessment – The Deputy Commissioner issued notice under section 148 of the Income tax Act, proposing to reopen the assessments for the assessment year 1989-90 and 1990-91, both under the Act as well as Wealth tax Act. Realizing the mistake, the Assistant Commissioner issued notice u/s 16(2) of the Wealth Tax Act, 1957 for the assessment year 1989-90 and 1990-91. The petitioner raised an objection to the notice which was rejected. On writ petition court, holding that the proceedings initiated apparently under the provisions of the Income tax Act for the purpose of revising the wealth tax assessment could not be sustained, set aside the notice with liberty to the Department to issue proper notice under the Wealth Tax Act to proceed further. Held that- the order passed by the court in the earlier writ petition quashing the orders and directing that it was open to the department to proceed afresh, did not meant that limitation provided for under section 17 of the wealth tax act was served for the purpose of issuing fresh notice.
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