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TMI Blog2013 (3) TMI 31X X X X Extracts X X X X X X X X Extracts X X X X ..... ed the following question of law under Section 256(1) of the Income-tax Act, 1961, hereinafter referred to as "the Act", for opinion of this Court. "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the protective assessment has to be treated as substantive assessment as the AO failed to indicate about the real owner of the income?" Brief ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the real owner of the income. Feeling aggrieved the assessee preferred an appeal before the Commissioner of Income Tax (appeals), Agra, who vide order dated 24th March, 1988 had held that protective assessment be made on the income and in the status shown by the assessee and thus he directed the Assessing Officer to include the income of the trust only after considering the material in the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmitted that the Apex Court in the case of I.T.O. vs. Bachu La Kapoor, (1966) 60 ITR 74 has categorically held that when there was a doubt as to which person among two was liable to be assessed, parallel proceedings might be started against both; and also laid down an equitable procedure to be followed to make protective assessment. He further submitted that it is settled law that where there is d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the parties. It is not in dispute that the Assessing Officer was not aware as to who was the real owner of the income and in whose hands the substantive assessment has to be made. However, it would not mean that a protective assessment cannot be made against a person who has voluntarily filed a return. If the Assessing Officer has doubt about the genuineness and veracity of the claim made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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