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TMI Blog2008 (8) TMI 336X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal on March 22, 2004, it could have been said that the assessment has yet not been finalized. - In such circumstances, it cannot be said that the ITAT has committed any error of law in rejecting the application for rectification moved by the Revenue/appellant particularly when no mistake is shown to have been committed. - 180 of 2005 - - - Dated:- 8-8-2008 - PRAFULLA C. PANT and DHARAM VEER JJ. Pitambar Maulehi for the appellant. Jitendra Chaudhary for the respondent. JUDGMENT The judgment of the court was delivered by PRAFULLA C. PANT J.- This appeal, preferred under section 260A of Income-tax Act, 1961, is directed against the impugned order dated February 22, 2005, passed in Misc. Application No. 7/Del/2005 b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income-tax (Appeals)). The said appeal was registered as Appeal No. 92/DDN/95-96 and dismissed, vide order dated January 10, 2001, by the Commissioner of Income-tax (Appeals). On further appeal before the Income-tax Appellate Tribunal (hereinafter to be referred as "the ITAT"), filed by the assessee, the appeal was allowed, vide order dated March 22, 2004. 5. After the order was passed by the Income-tax Appellate Tribunal on March 22, 2004, a new section, i.e. section 142A was inserted in the Income-tax Act, 1961, which reads as under: "142A Estimate by Valuation Officer in certain cases. - (1) For the purposes of making an assessment or reassessment under this Act, where an estimate of the value of any investment referred to in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ases where assessment has not become final by the said date or where reassessment is required to be made in accordance with the provisions of section 153A of the Act. Section 153A of the Act provides for assessment in the case of search or requisition. Admittedly it is not a case either of search or of requisition. That being so, in the present case, the estimate by the Valuation Officer cannot be sought as the assessment had already got finalized on March 22, 2004 (i.e., before September 30, 2004) when the Income Appellate Tribunal decided the appeal filed by the assessee. 7. Learned counsel for the Revenue/appellant submitted that the Income-tax Appellate Tribunal has erred in law in rejecting the application for rectification moved b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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