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TMI Blog1989 (10) TMI 42X X X X Extracts X X X X X X X X Extracts X X X X ..... 76 and 1978-79 are barred by time, is valid under law ?" Sri M. Suryanarayana Murthy, learned standing counsel for income tax, submits that as the Income-tax Officer has given an opportunity of rehearing to the assessee, further time was taken in making the assessment and that, therefore, under the proviso to section 129 of the Act, that time will have to be excluded for the purpose of limitation. Sri Y. Ratnakar, learned counsel for the assessee, on the other hand, submits that when the Inspecting Assistant Commissioner offered an opportunity of rehearing before the Income-tax Officer, there was no necessity for any further enquiry as there was nothing which required to be done by the Income-tax Officer. It was for the Inspecting Assista ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... October 15, 1981, and the assessments for the years 1971-72 to 1975-76 and 1978-79 were completed on October 16, 1981. The assessment for the year 1978-79 should have been completed on or before March 31, 1981, under section 153(1)(a) of the Act. So also, the reassessment for the years 1971-72 to 1975-76 (as the original assessments for the said years were set aside during the financial year 1978-79) should have been done under section 153(2A) on or before March 31, 1981. Section 144B allowed an extra period of 180 days. But the assessment was made after the extra period of 180 days. In appeal, the assessee contended that the assessments for the said years were barred by limitation. This contention was accepted by the Appellate Tribunal. I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommissioner (Inspecting Assistant Commissioner in this case) who has to consider the same and issue necessary directions as he thinks fit for the guidance of the Assessing Officer. Section 144B of the Act does not contemplate affording a fresh opportunity to the assessee when the matter is pending before the Inspecting Assistant Commissioner except when directions prejudicial to the assessee are to be issued and for this purpose whether or not the Incometax Officer (Assessing Officer) remains the same is immaterial. He has to consider the objections, when opportunity of hearing is given to the assessee and after hearing him, in the light of the record relating to the draft order, issue such directions as he thinks fit for the guidance of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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