TMI Blog2010 (8) TMI 1047X X X X Extracts X X X X X X X X Extracts X X X X ..... to proceed further. As per the said order, the entire case records were reconstructed and that is how the reconstructed records are now placed before me for disposal. 2. The petitioner is an income-tax assessee. He derives his income from four sources viz., from vegetable business, real estate business in the name of Janaki Real Estate , a screening theatre called Bharani Theatre , taken on lease and distribution of films under the name of Devi Karumariamman Films . For the years 1983-84, 1984-85, 1985-86, 1986-87, 1987-88, he filed income-tax returns on 22-3-1988. The said returns were assessed under section 143(3) of the Income-tax Act. Subsequently, the petitioner filed an application under section 245C(1) of the Income-tax Act on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 4,89,850 For the Assessment year 1984-85 ₹ 10,95,750 For the Assessment year 1985-86 ₹ 2,13,860 For the Assessment year 1986-87 ₹ 9,87,590 For the Assessment year 1987-88 ₹ 18,19,950 ₹ 46,07,000 4. Thus, the total income computed for the purpose of income-tax by the Commission was ₹ 46,07,000. The Commission also gave waiver of 50 per cent of the interest and also granted payment of the income-tax in eight equal instalments. Immunity from penalty and prosecution was also granted. Challen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -7-2009 [Canara Jewellers v. Sri Yogesh Palke (alias) Sri Yogesh Achar (died)] and the judgment of the Hon ble Supreme Court in CIT v. Express Newspapers Ltd. [1994] 206 ITR 443 1. In the case on hand, according to the learned Senior counsel for the petitioner, the Commission has ventured upon to compute the income of the petitioner and has assessed the income-tax as though the Commission is exercising the power of the Assessing Authority under section 147 of the Income-tax Act. Therefore, according to the learned Senior counsel, the order impugned in this writ petition is liable to be set aside. 7. The learned Senior Standing Counsel appearing for Income-tax Department would submit that there is no controversy in respect of the settled ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on, after holding enquiry, also found that the income of the petitioner as disclosed in the application was not full and true and that is the reason why the Commission itself found that the total income for these relevant periods was ₹ 46.07,000. As per the settled position of law since, the commission had come to the conclusion that the disclosure made by the petitioner was not full and true, the commission should have dismissed the application leaving the option to the petitioner to work out his remedies in the manner known to law and also giving liberty to the Assessing Authority to reopen the assessment under section 147 of the Act. Instead of doing that the commission itself has taken up the role of Assessing Authority and has re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the order passed by the commission as the same is wholly without jurisdiction. Therefore, the contention of the learned counsel in this regard is only liable to be rejected. 12. When a specific querry was made to the learned Senior Counsel as to whether at this stage, the assessing authority can reopen the assessment in terms of section 147 of the Act after issuing notice under section 148 of the Act, the learned Senior Counsel would submit that the same is possible provided the period of limitation contemplated under section 149 of the Act is still available. 13. The learned Senior Counsel would fairly submit that section 245HA(4) of the Act, provides that the period spent before the Settlement Commission and in this writ petition ..... X X X X Extracts X X X X X X X X Extracts X X X X
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