TMI Blog1999 (2) TMI 16X X X X Extracts X X X X X X X X Extracts X X X X ..... of the matter under consideration - held that the question as regards reopening of the assessment under section 147(a) of the Act would not arise further - - - - - Dated:- 3-2-1999 - Judge(s) : M. SRINIVASAN. and UMESH C. BANERJEE. ORDER The assessee, a banking company, had the assessment for the year ending on December 31, 1968, completed on October 4, 1969. Subsequently, however, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d due on the loans advanced by the bank was the income of the bank for the relevant assessment year and the assessee has failed to disclose this income in the return filed earlier. In the appeal against the reassessment order, the Commissioner of Income tax (Appeals) upheld the order of the Income-tax Officer and on further appeal, the Tribunal, however, reversed the view of the Commissioner and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he interest of Rs.54,485 taken directly to interest suspense account is not assessable to income-tax?" So far as the second question is concerned, the High Court recorded that the matter need not be gone into by reason of the circular dated October 6, 1952, issued by the Central Board of Direct Taxes. Neither do we feel it necessary to go into the issue any further. Turning attention to the fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lso record our concurrence therewith. Incidentally this issue came for consideration before this court in a batch of cases on more or less identical situations and this court while dealing with this matter finally, recorded that the question as regards reopening of the assessment under section 147(a) of the Act would not arise further. The question in the facts of the matter under consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X
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