1998 (12) TMI 64 - HC - Income Tax

Summary

The Bombay High Court considered a case where the Appellate Assistant Commissioner set aside the entire assessment with a direction for a fresh assessment to be made de novo. The Income-tax Officer was found to have the same powers for the fresh assessment as in the original assessment under section 143(3) of the Income-tax Act. The Court concluded that the Income-tax Officer acted appropriately in making the fresh assessment based on available material. However, due to the absence of the assessee during the proceedings, the Court returned the reference unanswered.