TMI Blog2009 (10) TMI 463X X X X Extracts X X X X X X X X Extracts X X X X ..... s of account. The Commissioner of Income-tax (Appeals) deleted the said additions. On further appeal, the Tribunal directed the framing of a fresh assessment. Held that- the assessing authority could not be required to wait till the decision of the Excise Tribunal, by which time proceedings may become time barred. Proceedings under the Central Excise Act had relevance only for formation of opinio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er with a direction to frame fresh assessment on the basis of the decision of the Excise Tribunal in regard to the appeal filed by the Customs and Excise Department ignoring the fact that proceedings before the Excise Tribunal are not barred by limitation whereas fresh assessment as directed by the Income-tax Appellate Tribunal will be barred by limitation on December 31, 2009, as per section 153 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the judgment of this court in K. S. Bhatia [2002] 257 ITR 614 relied upon by the Tribunal was not applicable, as in that case the finding which was relied upon, as information for reassessment, had been set aside by the higher authority. The assessing authority could not be required to wait till the decision of the Excise Tribunal, by which time proceedings may become time barred. Proceedings un ..... X X X X Extracts X X X X X X X X Extracts X X X X
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