9911796707
TMI Blog1981 (12) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... the facts and in the circumstances of the case, and on the true interpretation of s. 3(1)(c) read with s. 3(4) (of the I.T. Act, 1961), the Appellate Tribunal was justified in holding that the assessment made on the basis of the previous year from 24th October, 1965, to 31st March, 1967, for the assessment year 1967-68 was not illegal ? " The first assessment of the assessee was made in the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t order. The assessee thereafter filed an appeal, and one of the contentions sought to be raised before the AAC was that inasmuch as in the first assessment year, i.e., 1965-66, the accounting period was taken to have ended on the 31st December, 1964, a change in the previous year for the assessment year 1967-68 could not be effected. The AAC did not allow the assessee to take up this plea. The ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itions as the ITO thought fit to impose, there should be a conscious act on the part of the ITO before it could be inferred that consent has been given. He drew our attention to Black's Dictionary where consent has been defined to mean an act of reason, accompanied with deliberation, the mind weighing as in a balance the good or evil on each side. This may be so, but consent can either be express ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... previous year and the ITO had acted on it. In the present case, we find that not only the assessee had voluntarily changed his previous year, and the ITO had acted on it, but the return was filed after a settlement was arrived at with the assessee and the Commissioner. Those three sets of facts clearly lead to the conclusion that the ITO had consented to the change of the previous year by the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X
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