TMI Blog1982 (9) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... 0, the petitioner had returned an income of Rs. 4,37,049. The ITO, acting under s. 144B of the I.T. Act, 1961 (" the Act "), passed a draft assessment order determining the income of the petitioner at Rs. 5,25,020. Since, according to the ITO, the variation in the income returned and proposed in the draft order exceeded Rs. 1,00,000, he referred the case to the IAC along with the assessee's object ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that in view of the fact that the draft order did not show a variation of Rs. 1,00,000 between the returned and the proposed incomes, the IAC had no jurisdiction to act under s. 144B. After hearing the learned counsel, we find that this petition has to be dismissed. The validity of the order of rectification (annex. I) has already been challenged by the petitioner before the Commissioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal, available to the petitioner. If a question of law arises, a reference can be made to this court. Prima facie it appears that the ITO by rectifying his order, brought the draft assessment within the requirements of s. 144B, and, therefore, the IAC had jurisdiction to take further steps in accordance with the above provision. Whether the rectification was proper or not is, as already obser ..... X X X X Extracts X X X X X X X X Extracts X X X X
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