S.C : Whether the Appellate Tribunal is correct and justified in law in holding that the expression ‘an assessment to be made under s. 143(3)’ used in s. 144B is confined only to the assessment to be made under s. 143 and does not cover reassessments to be made under s. 147 of the IT Act with the consequence that the procedure prescribed under s. 144B and extended time-limit provided in the Explanation to s. 153(1) is not available to reassessments to be made under s. 147 ?

Supreme Court Of India

CIT vs. Sundaram Spinning Mills

Sections 144B, 147, 153(1), Explanation

Asst. years 1968-69, 1973-74

S.P. Bharucha, N. Santosh Hedge & Y.K. Sabharwal, JJ.

Civil Appeal No. 2498 of 1998

5th December, 2000

ORDER

THE COURT :

This is an appeal by the Revenue against the judgment and order of the High Court at Madras. The High Court answered in the affirmative and in favour of the assessee, the following question :

“Whether the Appellate Tribunal is correct and justified in law in holding that the expression ‘an assessment to be made under s. 143(3)’ used in s. 144B is confined only to the assessment to be made under s. 143 and does not cover reassessments to be made under s. 147 of the IT Act with the consequence that the procedure prescribed under s. 144B and extended time-limit provided in the Explanation to s. 153(1) is not available to reassessments to be made under s. 147 ?”

2. The identical issue was raised before this Court in the case of R. Dalmia & Anr. vs. CIT (1999) 152 CTR (SC) 383 : (1999) 236 ITR 480 (SC), and, following that judgment, the judgment and order of the High Court must be reversed and the question answered in the negative and in favour of the Revenue. Order on the appeal accordingly. No order as to costs.

[Citation : 249 ITR 213]

Malcare WordPress Security