9911796707
TMI Blog1992 (4) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... has been made after the expiry of the period of limitation prescribed by section 153 ? " The facts leading to the question are as under : The return for the assessment year 1981-82 was filed on July 30, 1983. As there was a variation between the income shown in the return and the income proposed, the Income-tax Officer drew up a draft under section 144B(1) of the Income-tax Act, 1961, on September 6, 1983. The assessee submitted its objection by a letter dated September 12, 1983. The Inspecting Assistant Commissioner communicated his directions on September 24, 1984, which were received by the Income-tax Officer on the same day. The assessment was made on September 25, 1984. The normal period within which the assessment ought to have b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... period (not exceeding one hundred and eighty days) commencing from the date on which the Income-tax Officer forwards the draft order under sub-section (1) of section 144B to the assessee and ending with the date on which the Income-tax Officer receives the directions from the Inspecting Assistant Commissioner under sub-section (4) of that section, or, in a case where no objections to the draft order are received from the assessee, a period of thirty days. " On a plain reading of the said Explanation 1, it is clear that the provisions thereof extend the limitation by the time which the Inspecting Assistant Commissioner may take in giving directions to the Income-tax Officer but such extension shall not exceed 180 days. Explanation 1 provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd eighty days, the period to be excluded would be that period otherwise it will be one hundred and eighty days. In any event, the period to be excluded has to be added to the period of two years so that this will extend the period of limitation beyond the last date on which the assessment could have been completed under section 143 or 153. If that is done, the assessment could have been completed in this case on or before September 27, 1984, and, therefore, the assessment made as on September 25, 1984, is very much in time. The assessee's contentions, therefore, have no merit. We accordingly answer the question for the assessment year 1981-82 in the negative and against the assessee. The second question referred at the instance of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the court may direct. Thus, it is clear from the direction of the court that the assessee has not got any enforceable right against the interest or the principal amount. The word "accrual" denotes accrual of income for which an enforceable right is created in favour of the person in whose favour the income accrues. The interest accruing is under the control of the High Court and unless an order is passed by the High Court releasing the amount, it cannot be available to the assessee. Therefore, after considering the decisions cited by the parties, the facts and circumstances of the case and particularly the order of the High Court, the Tribunal held that the amount did not accrue during the year under appeal and, subsequently, the inclusion ..... X X X X Extracts X X X X X X X X Extracts X X X X
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