1990 (12) TMI 4 - SCH - Income Tax

Whether the Tribunal was right in holding that the assessment made by the Income-tax Officer was barred by limitation - if there is no finding of concealment within 4 years of the assessment year assessment beyond 4years is time barred

Summary

The Supreme Court dismissed the appeal against the High Court judgment in favor of the assessee, stating that the assessment was time-barred as the Income-tax Officer did not record any finding of concealment within 4 years. The appeal was dismissed with no order as to costs.