1927 (2) TMI 16 - AT - Income Tax

Summary

The judgment pertains to a reference under section 66(i) of the Income-tax Act. The Income-tax Commissioner's powers of review under section 35 are subject to a period of limitation. Section 34 applies only to income that has escaped assessment. The Tribunal held that the Income-tax Officer cannot assess income after the expiration of the limitation period. The second question was answered in the negative.