9911796707
TMI Blog1984 (1) TMI 120X X X X Extracts X X X X X X X X Extracts X X X X ..... sessment for the year 1978-79 was completed by the WTO on the basis of the return of net wealth filed on 28th June, 1979. This return was due on 15th Sept., 1978. The assessment was completed on 29th Dec., 1979. Thereafter, the CWT called for the record and considering that the above said assessment made by the WTO was erroneous so as to be prejudicial to the interest of the Revenue issued a notic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P & H); (ii) CIT vs. Narpat Singh Malkhan Singh (1980) 19 CTR (MP) 302 : (1981) 128 ITR 77 (MP); and (iii) Addl. CIT vs. J.K. D'costa (1981) 25 CTR (Del) 224 : (1982) 133 ITR 7 (Del), the ld. counsel for the assessee submitted that the CWT had no basis to come to a conclusion that the assessment made by the WTO was erroneous so as to be prejudicial to the interest of the Revenue because he d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... MP); and (iii) Addl. CIT vs. Nathoolal Balram (1980) 25 ITR 596 (MP). 5. We have duly considered the submissions made by both the sides. We have also perused the authorities cited and we find that a similar issue came before us in the case of M/s Harsaram Dass Sita Ram in ITA No. 799/81 relating to the asst. yr. 1979-80 and vide our order dt. 18th July, 1983, we held that failure of the ITO to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his case were and how the order of assessment made by the ITO was erroneous so as to be prejudicial to the interest of revenue. 7. As worst it could be said from the judgments that are cited from both the sides that on this issue there can be two reasonable views but even in such a situation, the principle laid down by the Supreme Court that where there are two reasonable views, the one that fav ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
