9911796707
TMI Blog1971 (8) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... n the assessments of the respondents for the assessment years 1958-59, 1960-61, 1961-62 and 1962-63, under section 154 of the Income-tax Act, 1961. Respondents Nos. 2 and 3 are the partners in the first respondent-firm. The first respondent-firm was duly registered under the Indian Income-tax Act, 1922, as well as under the Income-tax Act, 1961. In the original assessments of the firm for the concerned assessment years, assessments were made on the slab rates prescribed under the respective Finance Acts applicable to registered-firms. In the individual assessments of the partners their respective shares in the income of the firm were included and tax was assessed at the maximum rates since their assessments were made in the status of non-re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ose rectifications under section 154 of the Income-tax Act, 1961. That section, to the extent material for our present purpose, reads : " 154. (1) With a view to rectifying any mistake apparent from the record-- (a) the Income-tax Officer may amend any order of assessment or of refund or any other order passed by him : ...... The corresponding section in the Indian Income-tax Act, 1922, is section 35. We have now to see whether the Income-tax Officer was justified in opining that in the original orders of assessment, there was any apparent mistake. As seen earlier, in the original assessments of the firm for the relevant assessment years, the Income-tax Officer adopted the slab rates applicable to registered-firms. The question for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ceding sub-clauses." It is a matter for consideration whether the definition contained in section 2(31) of the Income-tax Act, 1961, is an amendment of the law or is merely declaratory of the law that was in force earlier. To pronounce upon this question, it may be necessary to examine various provisions in the Act as well as its scheme. Section 113 of the Income-tax Act, 1961, corresponded to section 17(1) of the Indian Income-tax Act, 1922, but that section has now been omitted with effect from April 1, 1965, as a result of the Finance Act, 1965. From what has been said above it is clear that the question whether section 17(1) of the Indian Income-tax Act, 1922, was applicable to the case of the first respondent is not free from dou ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
