9911796707
TMI Blog1997 (4) TMI 42X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment order, for the assessment year 1974-75, made on September 10, 1980?" The assessee filed a return under section 139(4) of the Income-tax Act, 1961 (hereinafter referred to as the Act), on September 6, 1975, for the assessment year 1974-75. A revised return was filed by the assessee on March 21, 1977. Taking the return filed by the assessee on March 21, 1977, as the revised return, the Income-tax Officer, framed a best judgment assessment under section 144 on March 6, 1978. On an application made by the assessee, the assessment under section 144 made on March 6, 1978, was cancelled by the Income-tax Officer on March 19, 1978. Thereafter, the Income-tax Officer continued the assessment proceedings which culminated in the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unal by recording the following finding : "8. After giving careful consideration to the rival submissions and as already stated above we are of the opinion that the assessment made by the Income-tax Officer on March 6, 1978, was beyond the period of limitation within which he could make a valid assessment. In the judgment relied upon by learned counsel for the assessee, the Income-tax Appellate Tribunal, Chandigarh Bench, considered this issue at length from various angles and came to the conclusion that a return filed under section 139(4) could not be revised by the assessee because there was no provision for revising such a return in the Income-tax Act, 1961. The Delhi High Court and the Allahabad High Court, as pointed out supra, have u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... statement at the Bar that during the course of assessment proceedings the Income-tax Officer had at no stage intimated the assessee that he was taking the assessment beyond the period of ordinary limitation by invoking the provisions of section 153(1)(b) of the Act. This appears to be correct because the Income-tax Officer has not anywhere recorded that he was treating this case as a case of concealment and, therefore, was availing of the extended period of limitation provided under section 153(1)(b) of the Act. The Income-tax Officer merely tried to meet the challenge posed to him after he had incurred a expense (sic) and the assessment had become barred by time. He could not justify it. We, therefore, reverse the order of the learned Com ..... X X X X Extracts X X X X X X X X Extracts X X X X
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