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1973 (5) TMI 22 - HC - Income TaxInitially Income-tax Officer allowed the loss on the basis of the decision of tribunal for earlier year that the particular transaction was not speculative. Whether he can subsequently reopen the assessment in view of the later opinion of the Tribunal in other cases that such transaction was speculative - " Whether the order of the Tribunal in annexures " C-1 " and " C-2 " constitute 'information' within the meaning of section 34(1)(b) so as to justify the assessment in this case being reopened ? " - In the premises, the question referred to this court must be answered in the affirmative and in favour of the revenue
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