Law:

Section:

Section 153, read with section 127, of the Income-tax Act, 1961 - Assessment - Time limit for completion of - Assessment year 1986-87 - Whether where order passed by Chief Commissioner, transferring assessee's case from one Assessing Officer to another, was initially suspended on 10-10-1988 and finally quashed on 13-12-1989 by High Court on assessee's writ petition, Tribunal was correct in law in holding that period between passing interim suspension order by High Court dated 10-10-1988 and final order dated 13-12-1989 on Chief Commissioner's order under section 127(2) could not be taken as extended period of limitation as laid down under section 153(3)(ii) for completion of assessment, inasmuch as order of High Court dated 10-10-1988 did not amount to stay of assessment proceedings as contemplated in Explanation 1(ii) to section 153(3) - Held, yes Section 250, read with section 153, of the Income-tax Act, 1961 - Commissioner (Appeals) - Procedure of - Assessment years 1986-87 and 1987-88 - Whether section 153(3)(ii) does not restrict amplitude or scope of direction to be given in an order made under section 250 - Held, yes - Whether directions, which Commissioner (Appeals) is empowered to make in an order under section 250, would include within its ambit annulment of, and setting aside, of assessment order for de novo consideration by appropriate assessing authority - Held, yes FACTS Subsequent to a search conducted upon the assessee-company's business and residential premises, the Chief Commissioner passed order dated 28-7-1988 under section 127(2) transferring the assessee's case from the Assistant Commissioner, Company Circle, Hyderabad, before whom the assessee had filed its return, to the Assistant Commissioner (Inv.), Visakhapatnam, on ground that the assessee was one among a group of companies whose activities were largely confined to Visakhapatnam. On writ petition filed by the assessee seeking quashment of said transfer order, the High Court vide its interim order dated 10-10-1988 suspended the operation of impugned order until further orders. Despite that, the new Assessing Officer completed ex parte assessment on 31-3-1989. During the pendency of…

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