2009 (4) TMI 405

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..... by the assessee as income from other source which order was upheld in appeal by the Commissioner of Income Tax (Appeals).The Tribunal quashed the reassessment order. Held that- the proviso lays down that section 142A will not apply to an assessment made before the 30th day of September, 2004. In the instant case, the original assessment order was passed December 4, 1990 that was much before Septem .....

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..... ng Officer added the difference in the valuation made by the Departmental Valuation Officer and the investment shown by the assessee as income from other sources which order was upheld in appeal by the Commissioner of Income-tax (Appeals). However, the Tribunal, vide order dated March 31, 2005, had quashed the reassessment order. 2. Heard Sri R. K. Upadhyaya, learned standing counsel for the Rev .....

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..... assessment made on or before the 30th day of September, 2004, and where such assessment has become final and conclusive on or before that date, except in cases where a reassess-ment is required to be made in accordance with the provisions of section 153A." 5. We find that in the present case, the reassessment proceedings would be hit by the proviso as it also forms part of section 142A of the Ac .....

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