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2002 (4) TMI 883 - HC - Income TaxReassessment, Law Applicable, Validity - I feel that the Commissioner is right in rejecting the contentions of the petitioner. The contention of the petitioner that returns are non est does not have any relevance because the returns are not treated as returns for the purpose of assessment. The Assessing Officer has got information regarding the escaped income and thereafter assessment was completed after issuing notice under section 147 though mistakenly quoted as section 147(a) of the Act. Section 147 of the Act authorises the Assessing Officer to make an assessment for charging the escaped income if the officer has reason for the same. In this case the assessment on the settled position of law is about the returned income which constituted information for invoking the amended provision of section 147 of the Act. When the Assessing Officer has sufficient reason for the assessment, there is no scope for examination as to whether the officer has proceeded under the amended provision of section 147 of the Act. - In the circumstances, I see no ground to interfere with the order passed by the Commissioner of Income-tax under section 264 of the Act and the original petition is therefore dismissed.
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