TMI Blog2014 (4) TMI 901X X X X Extracts X X X X X X X X Extracts X X X X ..... ith the amended Section 3, which stood amended by the Taxation Laws (Amendment) Act, 1987 – the amendment was applicable to the assessment year 1989-90, there is no ambiguity in adopting the period of assessment from 1.1.1987 to 31.3.1989 – Decided against Revenue. - Income Tax Appeal No. - 277 of 1999 - - - Dated:- 24-4-2014 - Hon'ble Rajes Kumar And Hon'ble Shashi Kant,JJ. For the Appellant : D. Awasthi For the Respondent : Vikram Gulati,R. S. Agrawal ORDER Heard Sri Dhananjai Awasthi, learned counsel for the appellant and Sri Mukesh Jain, alongwith Sri R.S. Agrawal, learned counsel appearing on behalf of the respondent. This Appeal, under Section 260-A of the Income Tax Act, relating to the assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7-88, for the period 1.1.1985 to 31.12.1986. In pursuance thereof, the assessment was made for the assessment year 1987-88 about which there is no dispute. The assessee moved an application before the assessing authority seeking the permission to change the previous year from the calendar year to adopt the previous year ending on 30th June of every year, vide application dated 12.11.1987. Said application was allowed and the assessee was accorded permission to close its previous year on 30th June. Accordingly, the assessee was to close the previous year on 30th June, 1988, relevant to the assessment year 1989-90. In the meanwhile, an amendment was made in Section 3 of the Income Tax Act by the Taxation Laws (Amendment) Act, 1987 by which an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ar 1988-89, for the period 1.1.1987 to 31.12.1987 and the other for the assessment year 1989-90, for the period ending on 31.3.1989, namely, for the period 1.1.1988 to 31.3.1989. The assessee filed two appeals before the Commissioner of Income Tax (Appeal). Both the appeals have been allowed by the CIT (Appeal) vide order dated 19.10.1992. CIT (Appeal) has set aside both the assessment orders and remanding back the cases to the assessing authority with the direction to pass one assessment order of the assessment year 1989-90, on the basis of the return filed by the assessee, relating to the previous year, that is, for the period of 27 months, commencing from 1.1.1987 and ending on 31.3.1989. Being aggrieved by the said order, the Depu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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