TMI Blog2003 (2) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... at in case of reassessment of a firm, the Assessing Officer has not only to determine the assessable income of the firm but has also to amend the assessment orders of the partners accordingly. Hence, in our opinion, the Tribunal has correctly held that the Assessing Officer could only take recourse to section 155 to modify the assessment of the assessee and he could not take recourse to section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee is a partner in a firm, Shyam Bidi Works. The original assessment of the firm as well as of the partners was completed. Subsequently, there was a search under section 132 of the Income-tax Act in connection with the firm, its partners and the directors of the company of this group in November 1988. As a result of this search, the firm filed a revised return on March 27, 1989 disclosing an inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Assessing Officer in addition to revising the assessee's share in the firm made certain additions on account of low household withdrawals. The assessee and other partners challenged the reassessment proceedings as well as addition on account of low household expenses, but their appeals were dismissed by the Commissioner of Income-tax (Appeals). On appeal the Tribunal set aside the orders of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er this section, section 154, section 250, section 254, section 260, section 262, section 263 or section 264, or (c) on any order passed under sub-section (4) of section 245D on the application made by the firm, that the share of the partner in the income of the firm has not been included in the assessment of the partner or, if included, is not correct, the Assessing Officer may amend the ord ..... X X X X Extracts X X X X X X X X Extracts X X X X
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