TMI Blog1987 (5) TMI 20X X X X Extracts X X X X X X X X Extracts X X X X ..... the decision of this court by the Income-tax Appellate Tribunal: " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the Income-tax Officer should not have invoked section 154 of the Income-tax Act, 1961 ? " The respondents herein are three assessees. For the year 1972-73, the original assessments were completed under section 143(1) of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eated the lorry hire charges returned as income from business and should have allowed set off of the carried forward business loss of the earlier years against that amount. The question as to whether the income returned-lorry hire-came under " other sources " was debatable. The Tribunal held that there is no mistake apparent from the record. The fact that the assessees returned the lorry hire char ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se. It is common ground that the respondents returned the lorry hire charges under other sources " and that they were assessed only under " other sources When it was realised that the set off of the business loss of earlier years could not be allowed against the income under "other sources", the Income-tax Officer initiated proceedings to set right the said mistake. It is seen from exhibits B-1, B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... indisputably "income from other sources". The assessees could have objected to the rectification proceedings or could have in turn initiated proceedings for rectification, so that the entire matter could have been adjudicated satisfactorily. It does not appear that the respondents filed objections to the rectification proceedings. On these premises, the Income-tax Officer was justified in passing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notices before the rectification proceedings, was not adjudicated. It is left open. For the purpose of this reference, we have proceeded on the basis that proper notices were served on the assessees before the rectification proceedings. But this will not fetter or in any way preclude the Appellate Tribunal from deciding the point left open specifically in paragraph 12 of the appellate judgment. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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