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1964 (10) TMI 17 - SC - Income TaxWhether the Income-tax Officer could initiate proceedings over again under section 34 of the Act in derogation of the finding given by the Tribunal that the Income-tax Officer did not " discover " that the income had escaped assessment.? Held that:- The finding of the Tribunal is, therefore, binding on the Income-tax Officer and he cannot, in the circumstances of the case, reopen the assessment and initiate proceedings over again. If that was not the legal position, we would be placing an unrestricted power of review in the hands of an Income-tax Officer to go behind the findings given by a hierarchy of Tribunals and even those of the High Court and the Supreme Court with his changing moods. High Court of Judicature at Allahabad was correct in holding that the Income-tax Officer, in the circumstances of the case, went wrong in initiating proceedings under section 34(1) of the Indian Income-tax Act, 1922, hereinafter called the Act, in respect of the assessment year 1942-43. Appeal dismissed.
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