9911796707
TMI Blog1981 (4) TMI 65X X X X Extracts X X X X X X X X Extracts X X X X ..... r the assessment year 1966-67, the assessee-company filed a return on 31st December, 1966, for assessment of surtax under the provisions of the Companies (Profits) Surtax Act, 1964, hereinafter called " the Act ". Notice under s. 6(1) of the Act was issued to the assessee on 25th May, 1971, and the order of assessment was passed on 1st June, 1971. Aggrieved by that order, the assessee preferred an appeal before the AAC. On behalf of the assessee, it was contended that since s. 8(b) of the Act prescribed the period of four years within which proceedings for assessment could be initiated in case of profit escaping assessment, and that notice was issued under s. 6(1) of the Act after a period of four years from the end of the assessment year 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tatutory deduction. The return is required to be filed before the 30th day of September of the assessment year. Section 5(2) of the Act empowers the ITO to serve a notice before the end of the relevant assessment year upon the principal officer of a company which, in the ITO's opinion, is assessable under the Act, requiring the company to furnish within thirty days from the date of service of the notice a return in the prescribed form. Section 6 of the Act provides that for the purpose of making an assessment under the Act the ITO may serve on any person, who has furnished a return under s. 5(1) of the Act or upon whom a notice has been served under sub-s. (2) of s. 5, a notice requiring him to produce accounts, documents or evidence as may ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection." It is in the light of the aforesaid provisions that we have to consider whether the provisions of s. 8(b) of the Act are attracted in the instant case. Now, it was not disputed before us that the provisions of the Act do not prescribe any period of limitation for completion of assessment. The Act does not also prescribe any period for issuing a notice under s. 6 of the Act. Thus, there is no provision in the Act on the basis of which it can be said that either the notice dated 25th May, 1971, issued under s. 6 of the Act, or the assessment made thereafter, was beyond the period of limitation. Reliance is, however, placed on the provisions of s. 8(b) of the Act, but those provisions are in terms not attracted because when a retu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le profits of the assessee had escaped assessment ? The Tribunal, in our opinion, was right in holding that the provisions of section 8(b) of the Act were not attracted. It was then contended that the assessment should have been made within a reasonable time and as it was not so made, it was barred by limitation. The contention cannot be upheld. In the first place, this contention was not urged before the Tribunal and, hence, it could not be held to arise out of the order of the Tribunal. That apart, when the Act does not provide a period of limitation for making an assessment, it would not be permissible for a court to introduce any period of limitation in the Act for making an assessment. The decisions of the Supreme Court in State of G ..... X X X X Extracts X X X X X X X X Extracts X X X X
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