1997 (11) TMI 76

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..... d October 13, 1997, issued by respondent No. 5. The grievance of the writ petitioners is that petitioner No. 1 furnished its return of income for preceding assessment year 1994-95 showing a taxable income of Rs. 82,980 and the same was assessed under section 143(1)(a) of the Income-tax Act on a taxable income of Rs. 82,980. In the assessment year 1995-96, the assessee furnished a return of income .....

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..... section 143(3) of the Income-tax Act, are being satisfied by petitioner No. 1. The petitioners reasonably expected that the assessment of the petitioner's firm should be completed in terms of the said circulars and/or guidelines for the assessment year 1995-96 as per return submitted by it and not under section 143(3) of the Income-tax Act. The petitioners further submitted that despite such spe .....

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..... e assessment was completed under section 143(3) for the assessment year 1995-96. Thereafter, the petitioner duly filed an appeal before the Commissioner of Income-tax (Appeals) V, Calcutta, respondent No. 5. The main grievance of the petitioner was that respondent No. 7, Assessing Officer, Income-tax, Circle 8(1), Calcutta, wrongly computed that petitioners have suppressed a total sale for Rs. 29, .....

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..... proceed under section 143(3) of the said Act. Dr. Pal also tried to convince this court by citing Navnit Lal C. Javeri v. K. K. Sen, AAC of I.T. [1965] 56 ITR 198 (SC), K P. Varghese v. ITO [1981] 131 ITR 597 (SC) and Raza Textiles Ltd. v. ITO [1973] 87 ITR 539 (SC) in support of his contention. Mr. Shome, appearing on behalf of the respondents, submitted that the writ petitioners have a right to .....

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..... ative remedy in favour of the writ petitioners under section 253 of the Income-tax Act. As such the writ petitioners will be at liberty to prefer an appeal under the said Act before the Tribunal. In this view of the matter, this application is dismissed without any order as to costs. Parties, will be at liberty to take all points, which are kept open, before the appropriate authority.
Case la .....

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