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TMI Blog2009 (8) TMI 635X X X X Extracts X X X X X X X X Extracts X X X X ..... t shown by the assessee as income from other sources which order was upheld by Commissioner (Appeals). The Tribunal quashed the reassessment order. Held that- the reassessment proceedings would be hit by the proviso as it also forms part of section 142A of the Act, inserted by the Finance Act, 2004. the proceedings had become final between the parties on the date when section 142A was inserted by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal by the Commissioner of Income-tax (Appeals). However, the Tribunal, vide order dated November 28, 2003, had quashed the reassessment order. 2. Heard Sri Shambhu Chopra, learned standing counsel for the Revenue and learned counsel appearing for respondent assessee. 3. Relying on the provisions of section 142A of the Act which was inserted by the Finance (No. 2) Act, 2004, with effect from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccordance 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 Act, inserted by the Finance (No. 2) Act, 2004, with effect from November 14, 1972. The proviso has been reproduced above. From the reassessment order, we find that the original assessment order was passed on Jan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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