2007 (10) TMI 626

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....hed goods) of about Rs. 3,48,116 was recovered. For want of any proof by him for lawful acquisition/possession of the said goods, the customs authorities seized the said goods somewhere in the third week of October, 1979. The seized goods were delivered to the authorised officer (Income-tax Officer) under section 132A(2) of the Income-tax Act, 1961 by the Customs authorities on 29-12-1980. Pertinently, the Income-tax Officer, H-Ward, Jaipur, on 27-11-1981, passed a provisional order of assessment under section 132(5) assessing undisclosed income of the assessee at Rs. 3,48,116 and raising total tax liability at Rs. 3,49,509. On 31-5-1982, the assessee filed a return of income for the assessment year 1980-81 showing total income of Rs. 9,610....

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....ns of the assessee. 6. The revenue made an application before the Tribunal under section 256(1) for making reference of the following question of law to the Rajasthan High Court for its answer: "Whether on the facts and in the circumstances of the case, the Tribunal was justified in upholding the CIT(A)'s order quashing the reassessment made under section 143(3)/148 of the Income-tax Act, 1961?" 7. The Tribunal by its order dated 14-7-1993 dismissed the said application. It is in these circumstances that the revenue has made this application under section 256(2) for asking the Tribunal to refer the afore-noticed question to this Court for its opinion. 8. Mr. Anuroop Singhi, counsel for the revenue made two-fold submission: (one) that th....

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..... Rajesh Jhaveri Stock Broker (P.) Ltd. [2007] 291 ITR 5001, yet we find that the observation of the Supreme Court that the acceptance of return under section 143(1) is an intimation and not the assessment order are referable to the amended provisions of section 143(1) post 1-4-1989. Insofar as the provisions of section 143(1) as it stood prior to 1-4-1989 was concerned, the Supreme Court held thus: "Under section 143(1)(a) as it stood prior to 1-4-1989, the Assessing Officer had to pass an assessment order if he decided to accept the return, but under the amended provision, the requirement of passing of an assessment order has been dispensed with and instead an intimation is required to be sent". 11. Thus, the order dated 15-6-1982 accept....

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....he counsel for the revenue. As noticed above, the goods were seized by the customs authorities somewhere in the third week of October, 1979 and after valuation of the said goods having been got done by the customs authorities from the Appraiser, Foreign Post Office, Jaipur, the said goods were delivered to Income-tax Officer under the provisions of section 132A(2) of the Income-tax Act, 1961 on 29-12-1980. As a matter of fact, the ITO, H-Ward, Jaipur framed provisional assessment order under section 132(5) of the Income-tax Act assessing the income of the assessee at Rs. 3,48,116. The assessee filed return of income for the assessment year 1980-81 thereafter on 31-5-1982 and the order under section 143(1) accepting the return of income was ....