9911796707
TMI Blog2001 (4) TMI 799X X X X Extracts X X X X X X X X Extracts X X X X ..... uestion was 1988-89. The assessment year in respect of the calendar year 1988, which was the accounting year of the respondent, can only be the year which commences on the 1st day of April after the end of the accounting year. This being so, the assessment year in respect of the calendar year 1988 could only be 1989-90 and, therefore, the notice for reassessment issued on March 15, 1995 was within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... second appeal being filed by the respondent, the same was allowed by the Rajasthan Tax Board. The matter was then taken to the High Court by the appellant by way of revision which was dismissed by the High Court by holding that the assessment year in question was 1988-89 and the limitation for reopening had expired on March 31, 1994. Hence, the reassessment made was quashed. 4.. It is evident ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the accounting year of the respondent, can only be the year which commences on the 1st day of April after the end of the accounting year. This being so, the assessment year in respect of the calendar year 1988 could only be 1989-90 and, therefore, the notice for reassessment issued on March 15, 1995 was within the period of limitation. 6.. The decision of the High Court is contrary and is, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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