1992 (10) TMI 7 - HC - Income Tax

Summary

The High Court of Bombay ruled in favor of the accountable person in a case involving the Estate Duty Act. The court upheld the cancellation of the assessment by the Appellate Controller, citing that the assessment was time-barred under section 73A of the Act. The court found that initiation of assessment did not occur within five years of the deceased's death.