2012 (5) TMI 255

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..... nt and the other was suffering from mental disorder, we allow the application for condonation of delay in preferring said application. We have considered the application for recalling the order passed by this court whereby, this court has allowed the appeal preferred against the order of the Tribunal. The learned counsel submitted that the order of this court is erroneous and, accordingly, the same is required to be recalled and, thereafter, the matter has to be decided in the light of the Law governing the subject. 2. The facts to which there appears to be no dispute are that in respect of a particular assessment year, the Assessing Officer asked the Valuation Officer to make valuation of a building, which was used by the applicant / asse .....

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..... ct of Section 142A of the said Act, as that Section was not in the Statute when the said judgment was rendered. At this juncture, it is to be taken note of that, while Sections 131 and 133 are contained in Chapter 13 of the Income Tax Act, delineating appointment and control of Income Tax authorities, their jurisdiction, their power and those pertaining to disclosure of information; Section 144A is contained in Chapter 14, whereby procedure for assessment has been prescribed. A look at Section 142A would make it absolutely clear that, if for the purpose of making an assessment or re-assessment under the Income Tax Act, an estimate of a value of investment referred to in Section 69 of the Act is require to be made, the Assessing Officer is a .....

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..... ion submitted that the Hon'ble High Court of Delhi, Hon'ble Allahabad High Court and the Hon'ble Kerala High Court have held that, assessment made, as provided in the Proviso to Section 142A, must be deemed to be the original assessment and, not continuation thereof in the appeal, either before the appellate authority or before the Tribunal or before the High Court. We are not in a position to accept those views in the absence of good reasons in support thereof. We have not been able to locate any good reason for, in Law, an appeal is continuation of the original proceeding and, accordingly, when the appeal is decided, the order passed by the authority, against whose order appeal has been preferred, stands merged in the order of the appella .....

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