1992 (1) TMI 7

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..... cer of a change in the previous year allowed to the assessee from the year ending June 30, to December 31. The second point related to the question whether the assessee's liability to excise duty in certain matters had ceased justifying action under section 41(1) of the Income-tax Act, 1961. The third point related to a claim for deduction in respect of expenditure on scientific research. The High .....

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..... the Tribunal. It would, therefore, appear that no cessation of liability can be postulated until the Tribunal has decided the matter. There is no prejudice to the Department if the assessment is modified depending upon the outcome of the decision of this court as well as the final outcome of the proceedings which are now pending before the Tribunal. This leaves only the first question for conside .....

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..... ake the financial year the previous year for all assessees. Having regard, therefore, to the subsequent developments as well as the subsequent history of the assessments in the present case, we are of the opinion that we need not express any opinion on the question decided by the High Court, exercising our jurisdiction under article 136. We, however, make it clear that we express no opinion on the .....

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