Law:

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Section 147, read with section 217, of the Income-tax Act, 1961 - Income escaping assessment - General - Assessment year 1980-81 - Whether any assessment made for first time by resort to section 147 will also be a regular assessment for purpose of invoking section 217 - Held, yes FACTS The petitioner was an assessee to income-tax and was a partner of certain firm. For the relevant assessment year she was liable to pay advance tax under the Act. The petitioner submitted an estimate of her income as required under section 209A(1), but no payment of advance tax was made in accordance with the estimate. Though the petitioner was bound to submit a return of her income for the relevant assessment year, the return could not be filed in time. Later, the petitioner was served with a notice under section 147, for submission of the return which was filed by her alongwith, the challan for having paid self-assessment tax in full under section 140A. The first respondent after issuing a notice under section 143(2) completed the assessment and levied interest under section 217. The levy of interest was confirmed by IAC. The petitioner's revision petition under section 264 before the Commissioner was also dismissed. On writ : HELD A reading of sections 147 and 148 makes it clear that, at any rate, an assessment for the first time made by resort to section 147 is a regular assessment. Section 148 enjoins the ITO before making an assessment under section 147 to serve a notice on the assessee containing all or any of the requirements which may be included in a notice under sub-section (2) of section 139. The further provision in that section is very significant which provides that the aforesaid notice has to be treated as if it is a notice under section 139(2) and that all the provisions of the Act shall apply to the subsequent procedure and the final assessment. In other words, the notice issued under section 148 has to be deemed to be a notice under section 139(2) and, if the other provisions of the Act have to be applied, an assessment in pursuance of that can be made only under section 143 or section 144. The provisions contained in section 140A also give an indication that an…

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