1985 (6) TMI 77

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....ssessee filed a return declaring a total income at minus figure of Rs. 23,06,230. The ITO, however, computed the total loss of Rs. 16,35,954. Accordingly, he forwarded a draft of the proposed order of the assessment to the assessee on 2-3-1982 under section 144B(1) of the Income-tax Act, 1961 ('the Act'). The assessee did not file any objections and the assessment was, consequently, finalised as d....

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....l. The representatives of the parties drew our attention to a decision of the Special Bench of the Tribunal at Bombay in the case of ITO v. Sippy Films [1982] 1 ITD 1031, wherein it was held that silence cannot be construed as positive acceptance and by merely not filing objections to the draft assessment order, it could not be said that the assessee should be deemed to have accepted the assessmen....

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....ions to the draft assessment order within the time prescribed by section 144B and had failed to do so. If now its objections are considered in appeal, it would be indirectly extending the limitation for these objections which the assessee has already lost. To our mind there is difference between the two proceedings. Even if the assessee had filed objections, and they had been rejected by the IAC, ....