TMI Blog1997 (9) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... ourt by the Income-tax Appellate Tribunal (for short "the Tribunal") under section 256(1) of the Income-tax Act, 1961 : "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that reference made under section 144B of the Income-tax Act, 1961, was bad in law and assessment made on May 28, 1984, is barred by limitation?" The assessee-firm d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax Officer on an income of Rs. 19,16,430 on May 28, 1984. The assessee challenged the assessment on the ground that the Income-tax Officer wrongly followed the procedure laid down in section 144B of the Act and, therefore, the extended period of limitation was not available for completing the assessment. It was claimed that the Income-tax Officer had concurrent jurisdiction along with the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erence No. 63 of 1985 (CIT v. Gheru Lal Bal Chand [1998] 233 ITR 82) decided on September 25, 1997, and it has been held that sub-section (7) of section 144B was not attracted and the procedure laid down in that section, was rightly followed as the Income-tax Officer, having concurrent jurisdiction with the Inspecting Assistant Commissioner under section 125A of the Act, proposed to make variation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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