Law:

Section:

Section 256, read with section 139 and section 254, of the Income-tax Act, 1961 - Reference - Question of fact - Assessee filed its return on 26-11-1963 - Revised return was filed on 22-3-1968 and ITO, on its basis, completed assessment on 19-3-1969 - On appeal against aforesaid assessment order Tribunal remanded case to ITO with direction to reframe assessment - ITO made reassessment on 27-3-1982 -Assessee challenged validity of reassessment on ground that assessment made on 19-3-1969 was barred by time - On second appeal assessee's contention before Tribunal that initial return had been filed under sub-section (4) of section 139 was turned down - Whether any referable question of law arose out of Tribunal's order holding that assessee could not raise point of limitation against original assessment after remand and that original assessment framed on 19-3-1969 was not barred by time - Held, no Facts The assessee filed its first return on 26-11-1963. A revised return was filed on 22-3-1968 and the ITO, on its basis, completed the assessment on 19-3-1969. On second appeal against the aforesaid assessment order, the Tribunal set aside the assessment order and remanded the case to the ITO for reframing the assessment according to its directions. Accordingly, the ITO made reassessment on 27-3-1982. The assessee challenged the validity of the reassessment on the ground that the initial assessment completed on 19-3-1969 was barred by time. On second appeal before the Tribunal, the assessee contended that the initial return itself having been filed under sub-section (4), no revised return could be filed under sub-section (5) of section 139. The Tribunal dismissed the appeal holding that after the remand the assessing authority could not allow any point to be taken beyond the remand order and the assessment had to be framed in accordance therewith. The application of the assessee under section 256(1) for reference was also rejected. On application under section 256(2): Held It was not disputed that against the original assessment the plea that it was barred by limitation was raised before the appellate authority and was turned down. Before the Tribunal, the assessee…

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