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TMI Blog1980 (7) TMI 90X X X X Extracts X X X X X X X X Extracts X X X X ..... he following question of law for our opinion: " Whether the Tribunal was in law justified in holding that the assessments framed on the assessee were not regular assessments within the meaning of section 273(b) read with section 212(3) of the Income-tax Act, 1961, and upholding the order of the Appellate Assistant Commissioner cancelling, penalties under section 273(b) ? " The assessment years i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessments were framed under s. 147(a), which were not regular assessments, the provisions of s. 273(b) were not attracted, and no penalty could be levied. The revenue took up the matter in appeal before the Tribunal. The Tribunal reaffirmed the view of the AAC. The only question in this reference is as to whether s. 273(b) applies to cases of assessments under s. 147(a) read with s. 143(3). The r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 212(3). Section 2(40) defines "regular assessment " meaning the assessment made under s. 143 or s. 144. This definition is made subject to the context in the Act, that is, if there is contextual claim to the contrary, the context will prevail over the definition clause. We, do not find anything in the context of s. 273(b) which would impel us to hold that the words " regular assessment " as occur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gulati, appearing for the revenue, also urged that under the old Act there were a string of cases where the view was taken that s. 18A(9) of the old Act applied to assessments made under s. 34 and that in cases where no return was filed and no previous assessment was made were taken to be cases of regular assessment. We do not think that any useful purpose could be served by referring to those ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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