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2012 (11) TMI 664 - AT - Income TaxRectification of order u/s 254 - Reassessment - notice u/s Sec. 148 - amendment made to section 143(2) with retrospective effect – issuance of notice within 12 months from the end of the month in which the return in response to notice under section 148 was submitted. - Held that:- On account of the said amendment, as long as a notice u/s.143(2) is issued before the expiry of the time limit as prescribed in 2nd proviso(b) for making the re-assessment, even if had been issued beyond the one year time limit from the date of the filing of the return, the effect of this amendment is to validate all those notices. In the result, since these provisos retrospectively made with effect from 1/10/1999 that would indicate that the provisos are transitional in character merely validating those notices in respect of re-assessment proceedings but otherwise not disturbing the law being limited upto 30/09/2005 but nothing to apply a return furnished on or after 1st day of October-2005. Apparent mistake so as to rectify u/s.254(2) - held that:- while deciding this appeal the Tribunal had only limited scope and ought to remain confined to the observation of the Tribunal as expressed vide an earlier order dated 22/03/2005. Firstly, those directions were meant for the A.O. and secondly, the applicable provisions of section 148 were not either referred or considered hence tantamount to per incuriam in nature. - We therefore re-call our order dated 31/12/2010 so that the relevant dates of issuance of notice u/s.148 and the returns filed in compliance of the said notice be examined in the light of the 2nd proviso to section 148(1) of the Act. The order is recalled and the Registry is directed to fix the appeal for hearing in due course as per law. - Decided against the assessee.
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