Law: Income Tax Act, 1961

Section: 147

Income-tax---Reference---Reassessment---Fresh notices issued when original assessments initiated under S. 148 were pending---Original assessments barred by time---Tribunal was right in annulling the reassessment---No question of law arose---Indian Income Tax Act, 1961, Ss. 147, 148 & 256. Held, dismissing the application to direct reference, that the Tribunal had passed its after considering all the facts and circumstances of the case. The Tribunal had held that the fresh assessment proceedings initiated for the same assessment years, were invalid because they were completed on the basis of the fresh notice issued under section 148 of the Income Tax Act, 1961, and the notices were issued on March 31, 1980, and March 17, 1981, i.e., at the time when the original proceedings initiated under section 148 were still pending and the original assessments were barred by time. The Tribunal was justified in annulling the assessments made under section 147/148 and no question of law arose from its order. JUDGMENT B.R. ARORA, J.---By this application under section 256(2) of the Income Tax Act, 1961, the Revenue has prayed that the Tribunal may be directed to submit the statement of the case and refer the following questions of law for the opinion of the High Court: "(1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally justified in annulling the assessment made under section 147/148 of the Income-tax Act? (2) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally justified in holding that the proceedings initiated under section 147/148 on October 9, 1973, have not been concluded to a logical end and, therefore, the fresh notice under section 148 was invalid?" The Income-tax Appellate tribunal, Jaipur Bench,…

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