S.C. Prashar & Anr. vs Vasantsen Dwarkadas & Ors.

Whether the second proviso to sub-section (3) of section 34 of the Indian Income Tax Act, 1922, as amended in 1953, is constitutionally valid and applies to reassessment proceedings initiated after the expiry of the limitation period --- Held No; Whether the validity of a reassessment notice issued under section 34 can be challenged in view of saving provisions in subsequent amending acts --- Held Yes; Whether the reassessment notice dated 30th April 1954 for assessment year 1942-43 was valid --- Held No.