Law: Income Tax Act, 1961

Section: 147,256

Income tax---Reassessment Information Decision of High Court that particular kind of expenditure is not deductible constitutes information Subsequent reversal of decision by Supreme Court does not render reassessment proceedings consequent upon such information void ab initio Reassess¬ment proceedings Scope of Entire reassessment proceedings set aside. Reassessment proceedings commenced to disallow royalty Income tax Officer has jurisdiction to disallow management expenses. Bankipur Club Ltd. v. C.I.T (1971)82 I T R 831 (S C); Bansilal Abhirchand Firm (R B) v. C.I.T (1968) 70 I T R 7415 Cf Bhagwandas Kevaldas v. Mehrotra (N D) (1959) 36 I T R 538 (Bom.); Commr. of Agri. I.T. v. Lucy Kochuvareed (1976) 103 I T R 799 (S C); C.I.T. v. Bombay Dyeing & Mfg. Co. Ltd. (1971) 82 I T R 892 (S C); C.I.T. v . Gotan Lime Syndicate (1964) 51 I T R 533 (Raj.); C. I. T. v. Madras Motor & Genl. Insurance Co. Ltd. (1975) 99 I T R 243 (Mad.); C.W.T. v. Subakaran Gangabhishan (1980) 121 1 T R 69 (A P) (F B); Gotan Lime Syndicate v. C.I.T. (1966) 59 I T R 718 (S C); Govindaraju Chetty (M V) v. C.T.O. (1968) 22 S T C 46 (Mys.); I.T.O. v. Taxtile Mills Agents P. Ltd. (1981) 130 I T R 733 (Cal.); Indian and Eastern Newspaper Society v. C.I.T. (1979) 119 I T R 996 (S C); Jamal Myden (K.M.) v. State of Madras (1968) 22 S T C 45 (Mad.); Jiyajee Rao Cotton Mills Ltd. v . I. T. O (1981) 130 I T R 710 (Cal.); Kamal Singh Maharaj Kumar v. C. I. T. (1.959) 35 I T R (S C); Karamchand Premchand P. Ltd. v. C.I.T. (1975) 101 I T R 46 (Guj.); Kuppuswamy Mudaliar (R.) & Sons v. Board of Revenue Commercial Taxes (1980) 45 S T C 152 (Mad.); Madras Auto Service v. I.T.O. (1975) 101 I T R 589 (Mad.); Narayanappa S v. C. I. T. (1967) 63 IT R 219 (S CA Parshuram Pottery Works Co. Ltd. v. Trivedi D.R., W.T.0 (1975) 100 I T R 65 (Guj.); Pingle Industries Ltd. v. C.I.T. (1960) 40 I T R 67 (S CJ; State of Maharashtra v. Central Provinces Manganese Ore Co. Ltd. (1977) 39 S T C 340 (S C) Travancore Minerals Co. Ltd. v. C.I.T. (1955) 28 I T R 505 T C and Walchand Nagar Industries Ltd. v. Gaitonde (V S) I.T.O. (1962) 44 1 T R 260 (Mah.). ref. C.I.T. v. A. Raman & Co. (1968) 67 I T R 11 (S C) Family of V.A.M.…

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