9911796707
TMI Blog1982 (5) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... ereinafter referred to as " the Act"), the following question of law has been referred to this court for its opinion : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the Income-tax Officer was not justified in rectifying the mistake by describing the assessee as a public limited company in which public was not substantially interested? " M/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e ITO on March 5, 1970. At the time of completing the supplementary assessment, the ITO described the status of the assessee as " private limited company ". The assessee by its letter addressed to the ITO stated that from perusal of the assessment order completed under s. 147(b), the ITO had wrongly mentioned the status of the assessee as "private limited company ", whereas the assessee is a " p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s. 154, The Department filed an appeal before the Income-tax Appellate Tribunal. The appeal was rejected on the ground that the order of the AAC did not call for any interference. The question of law, as extracted above, was drawn up at the instance of the Commissioner of Income-tax for the opinion of this court. Section 154 of the Act has a very limited application and enables the rectification ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly mentioned in the order that it was passed under s. 154 of the Act. In the order of the ITO under s. 147(b), there is no discussion as to why the status was being changed to that of a " private limited company ". On an application under s. 154, the assessee could either get the relief or he could be denied the relief as requested. The ITO finds a mistake apparent on the record and states that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
