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TMI Blog2006 (4) TMI 103X X X X Extracts X X X X X X X X Extracts X X X X ..... fied in holding that after full and final settlement of the tax arrears under section 90 of the Finance (No. 2) Act, 1998 in respect of all the matters, the Commissioner of Income-tax had jurisdiction to revise the said assessment order under section 263 of the Income-tax Act, 1961? 2. Whether under the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that the Commissioner of Income-tax had jurisdiction to revise the initial assessment order when it was rectified under section 154 of the Income-tax Act, 1961 and did not survive after having undergone rectification?" The appellant is a company registered under the Companies Act, 1956, engaged in manufacture of steel pipes, tubes and cold rolled f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g to reopen the assessment. The appellant contends that as a result of rectification of the assessment, it would be the rectified order that would prevail and when the entire material was placed in the declaration made under the KVS Scheme, it was not open to the Commissioner of Income-tax (Appeals) to reopen the issue in purported exercise of the power under section 263 of the Act. Accordingly, the action was opposed vide annexure D. The respondent, however, passed an order under section 263 (annexure H) on March 29, 2000, and set aside the assessment with a direction to recalculate the deductions under sections 80HH, 80-I and 80HHC. The appeal filed to the Tribunal was dismissed in so far as the above claim was concerned. It is in thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e the fact of such payment to the designated authority along with proof thereof and the designated authority shall thereupon issue the certificate to the declarant. (3) Every order passed under sub-section (1), determining the sum payable under this Scheme, shall be conclusive as to the matters stated therein and no matter covered by such order shall be reopened in any other proceedings under the direct tax enactment or indirect tax enactment or under any other law for the time being in force. (4) Where the declarant has filed an appeal or reference or a reply to the show-cause notice against any order or notice giving rise to the tax arrear before any authority or Tribunal or court, then, notwithstanding anything contained in any other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gift or tax of arrear (except where the tax arrear comprises only penalty, fine or interest), the appellate authority shall decide the appeal irrespective of such declaration." In this connection the judgment of the apex court in Killick Nixon Ltd. v. Deputy CIT [2002] 258 ITR 627 has been brought to our notice. In the said case, their Lordships have observed that the order made by the designated authority under section 90 of the Scheme is intended to be conclusive in respect of tax arrears and sums payable after determination towards full and final settlement of tax arrears. Upon such declaration being made, tax arrears being determined and paid and certificate issued under section 92, there is no jurisdiction for the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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