Law:

Section:

Section 143, read with section 263, of the Income-tax Act, 1961 - Assessment - Prima facie adjustment [Position prior to 1-6-1999]- Assessment year 1999-2000 - Whether an intimation or an acknowledgement is to be treated as an order only for the purpose of sections 246 and 264 and not for any other and even in section 154, it has not been treated to be an order rectifiable - Held, yes - Whether issue of intimation or acknowledgement is not an order within meaning of section 263 by reason of Explanation to section 143 - Held, yes Interpretation of statutes - Strict rule of interpretation of fiscal statutes FACTS An acknowledgement was issued under section 143(1)(a)(i ) by the department in respect of the return submitted by the assessee-company. Subsequently, the proceeding was sought to be revised by the Commissioner under section 263 on the ground that the order passed by the Assessing Officer was erroneous and prejudicial to the interest of the revenue. On appeal : HELD FISCAL STATUTE : PRINCIPLE OF INTERPRETATION: The provision of a fiscal statute has to be construed strictly. The Court can neither add or subtract nor presume, nor can introduce its own view. The provisions of fiscal statutes are to be interpreted strictly according to the letters. The Court is powerless to mould the law to suit a particular situation, which the Court thinks just even though such a meaning cannot be obtained out of the language employed and the scheme and the context in which those are used. The Court is not supposed to twist the law to make it just and serve justice. If the Legislature enacts a law, it has to be interpreted as it stands, and if two meanings are possible, then the one beneficial to the assessee is to be adopted. The expressions used in a statute take the colour from the context in which they are employed. The Court cannot infuse any meaning to stretch its application in a case, which it thinks just to do so. It is only when the language is clear and the expressions are capable of being extended, the Court then can apply the same in a given case and not otherwise. [Para 2] EFFECT OF OMISSION OF EXPLANATION TO SECTION 143 : The amendment was brought about in…

Deprecated: trim(): Passing null to parameter #1 ($string) of type string is deprecated in /home/digixyei/sldsystempk.com/view/master-layout/view_case.php on line 492