TMI Blog2002 (4) TMI 883X X X X Extracts X X X X X X X X Extracts X X X X ..... escaped income if the officer has reason for the same. In this case the assessment on the settled position of law is about the returned income which constituted information for invoking the amended provision of section 147 of the Act. When the Assessing Officer has sufficient reason for the assessment, there is no scope for examination as to whether the officer has proceeded under the amended provision of section 147 of the Act. - In the circumstances, I see no ground to interfere with the order passed by the Commissioner of Income-tax under section 264 of the Act and the original petition is therefore dismissed. - - - - - Dated:- 11-4-2002 - Judge(s) : C. N. RAMACHANDRAN NAIR. JUDGMENT C.N. RAMACHANDRAN NAIR J.-The petitioner, an u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act. The Commissioner overruled the objections of the petitioner and sustained the assessments under the amended provisions of section 147 of the Act which was introduced with effect from April 1, 1989. The Commissioner found that the section quoted as section 147(a) in the assessment is an obvious mistake and the assessments can only be under the amended provisions of section 147. Further, he has relied upon section 292B of the Act to hold that the assessments are not invalidated by the misquoting of the section. The Commissioner has gone into the period of limitation and on being satisfied, he has held that the assessments are completed within time. Thus, he has sustained the assessments. It is against the order of the Commissioner prod ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quoted section 147(a) instead of section 147. Besides this, section 292B of the Act provides the settled position of law that misquoting of any section cannot invalidate an order provided the officer passing the order has authority to issue the order under any other section. Now it is a settled position by virtue of the decision reported in Rama Bai v. CIT [1990] 181 ITR 400 (SC) that interest on enhanced compensation in land acquisition matters accrues from year to year. In fact the filing of returns by the petitioner after the final award of compensation by this court is consistent with the law laid down by the Supreme Court. In fact the Full Bench of this court has taken the same view in Peter John v. CIT [1986] 157 ITR 711. Learned cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he purpose of assessment for the years prior to 1989-90 when the new provision came into force. Further, on going through section 147 of the Act in the substituted form, it is clear that all assessments initiated after April 1, 1989, have to be only under the said section and not under the repealed section. In fact section 147 introduced with effect from April 1, 1989, itself provides for completion of assessment and pending assessments. Further it is a settled position of law that a procedural section which provides for assessment has to be in force as on the date of initiation of the proceedings. In the circumstances, I feel that section 147 that is in force as on the date of initiation of the assessment has to be applied. The petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
