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TMI Blog1988 (2) TMI 38X X X X Extracts X X X X X X X X Extracts X X X X ..... nd in the circumstances of the case, the Tribunal was right in holding that the assessment made by the Incometax Officer for the assessment year 1978-79 after recourse to section 144B of the Income-tax Act was within time?" The material facts giving rise to this reference, briefly, are as follows: The assessee is assessed in the status of a registered firm. For the assessment year 1978-79, the accounting year for which ended on March 31, 1978, the assessee filed its return on July 31, 1978. As the Income-tax Officer proposed to make an addition exceeding Rs. one lakh to the income of the assessee, the Income-tax Officer forwarded the draft of the proposed order of assessment to the assessee on March 30, 1981, as required by the provis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... " occurring in section 144B(1) of the Act. It is not disputed that if the provisions of Explanation 1(iv) to section 153 of the Act are attracted, then the assessment would be within the time prescribed therefor. The contention urged on behalf of the assessee is that the word " forward " used in section 144B(1) of the Act means " serve ". To appreciate this contention, it is necessary to refer to the relevant provisions of section 144B of the Act which are as follows: " 144B. (1) Notwithstanding anything contained in this Act, where, in an assessment to be made under subsection (3) of section 143, the Income-tax Officer proposes to make any variation in the income or loss returned which is prejudicial to the assessee and the amount of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Act. That would have caused hardship to the assessee. Learned counsel for the assessee was unable to point out any cogent reason for holding that the word " forward" occurring in section 144B of the Act should not be given its natural meaning which is " to put in course of transmission " or to transmit. It has not been shown that the requirement of the context is such that the word " forward occurring in section 144B(1) of the Act has to be understood as meaning serve ". The Tribunal, in our opinion, was right in holding that the word " forward " used in section 144B(1) of the Act did not mean " serve " and that, on the facts and in the circumstances of the case, the assessment was within time. Our answers to the questions referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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