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TMI Blog2004 (8) TMI 75X X X X Extracts X X X X X X X X Extracts X X X X ..... (iv) of Explanation 1 to section 153 and had quashed the assessment order as barred by limitation, it is not possible for us to give our opinion to the question of law referred to us and accordingly we return the reference unanswered. In the interest of justice, we direct the Tribunal to reconsider the matter - - - - - Dated:- 31-8-2004 - Judge(s) : R. K. AGRAWAL., K. N. OJHA. JUDGMENT The judgment of the court was delivered by R.K. AGRAWAL.- The Income-tax Appellate Tribunal, Allahabad, has referred the following question of law under section 256(1) of the Income-tax Act, 1961 for opinion to this court: "Whether on the facts and in the circumstances of the case the Appellate Tribunal was right in law in holding that the assessm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the deduction of Rs. 20,000 under section 80P(2)(c) of the Act the income from interest included in its income, was worked out at Rs. 98,204 and the total income was assessed at Rs. 1,03,419. The order was passed on July 27, 1977 after obtaining the approval of the Inspecting Assistant Commissioner under section 144B of the Act. The first appeal preferred by the respondent was dismissed. In second appeal the Tribunal accepted the plea taken by the respondent that the return was revised under section 139(5) of the Act and as per the provisions of law applicable for the year under consideration, the assessment having been completed beyond two years, was vitiated under law and consequently it quashed the assessment order. We have heard Sri D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment year is the assessment year commencing on the 1st day of April, 1968; (iii) two years from the end of the assessment year in which the income was first assessable, where such assessment year is an assessment year commencing on or after the 1st day of April, 1969; or (b) the expiry of eight years from the end of the assessment year in which the income was first assessable in a case falling within clause (c) of sub-section (1) of section 271; or (c) the expiry of one year from the date of the filing of a return or a revised return under sub-section (4) or sub-section (5) of section 139; or (d) the expiry of six months from the end of the month in which an application under clause (a) of sub-section (2) of section 143 is made ..... X X X X Extracts X X X X X X X X Extracts X X X X
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