1980 (10) TMI 22 - HC - Income Tax

Summary

The High Court of Punjab and Haryana allowed the petitions and directed the Tribunal to refer the question of law regarding the initiation of proceedings under section 147 of the Income Tax Act, 1961 to the court for its opinion. The court found that the reopening of the assessment without sufficient material was without jurisdiction, considering that the building floors were not complete or ready for occupation until a later assessment year.