1998 (8) TMI 39

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..... he instance of the Revenue and two at the instance of the assessee. The assessment year in question is 1978-79. The question referred to us at the instance of the Revenue is as under : "Whether, on the facts and in the circumstances of the case the Appellate Tribunal is correct in law in holding that the original assessment order got merged with the appellate order of the Commissioner of Income-t .....

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..... ct on the ground that dropping of proceedings commenced under section 147 was not synonymous in the circumstances of the case with an order of reassessment made under section 147 and, therefore, the bar prescribed by the provisions of section 263(2)(a) precluding the Commissioner of Income-tax from exercising his powers under section 263 did not operate ?" The Supreme Court in the case of CIT v. .....

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..... held that notwithstanding the fact that the initial assessment has been made in accordance with the direction given by the Inspecting Assistant Commissioner under section 144B of the Act, the Commissioner had jurisdiction to revise the order of the Income-tax Officer. So far as the third question is concerned, the Tribunal, in our view, has rightly held that the order dropping the proceedings is .....

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