Assistant Commissioner Of Income Tax vs Star Ferro Alloys (P) Ltd.

Whether reassessment proceedings under section 147 can be validly initiated after the original assessment proceedings under section 143(3) became time-barred without completion of assessment --- Held Yes; Whether Explanation 2(b) to section 147 applies where a return was filed but no assessment was made and excessive deduction was claimed --- Held Yes; Whether the limitation period for issuing notice under section 143(2) applies to reassessment proceedings initiated under section 148 --- Held No.