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TMI Blog1997 (7) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... evant assessment year is 1972-73 for which the accounting year was from 1st April, 1971 to 31st March, 1972. The following questions are referred by the Tribunal to this Court pursuant to a judgment of this Court in OP 6249/90 : (i) Whether on the facts and circumstances of the case, the assessment for the year 1972-73 dt. 29th March, 1976 and served on the assessee on 12th November, 1976 is va ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e first question arising for consideration is whether the assessment made in the year 1972-73 is barred in view of the provisions contained under s. 35(2) of the Kerala Agrl. IT Act, 1950. Sec. 35(2) as it stood before amendment by Act 13 of 1976 provided that no order of assessment under s. 18 or assessment or re-assessment under sub-s. (1) of s. 35 shall be made after the expiry of the three yea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... brought in the amendment by extending the period of 3 years to 5 years was given effect to only from 27th October, 1975. By that time, as mentioned earlier, by applying the three years rule period for completing assessment was already over. Subsequent amendment cannot give the power of assessment to the officer in respect of an year for which the assessment has already become barred. We are forti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te when he issued the notice it is within the period provided by that amending Act. This will be so, notwithstanding the fact that there has been no determinable point of time between the expiry of the time provided under the old Act and the commencement of the amending Act. The legislature has given to s. 18 of the Finance Act, 1956, only a limited retrospective operation i.e., upto 1st April, 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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