2003 (2) TMI 53

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....r section 260A of the Income-tax Act, 1961, by which the impugned order of the Income-tax Appellate Tribunal dated August 26, 1999, annexure 3, to the appeal has been challenged. We have heard learned counsel for the Department as well as of the assessee and have perused the impugned order and find no illegality in the same. The respondent-assessee is a partner in a firm, Shyam Bidi Works. T....

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....shed revised returns subsequent to the furnishing of revised return on March 27, 1989, the Assessing Officer initiated reassessment proceedings under section 147/148 of the Income-tax Act. The respondent-assessee furnished returns in response to the notice under section 148 under protest. The assessment was completed under section 143(3) by which the Assessing Officer in addition to revising th....

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....1) of the Income-tax Act states as follows : "Where, in respect of any completed assessment of a partner in a firm for the assessment year commencing on the 1st day of April, 1992, or any earlier assessment year, it is found (a) on the assessment or reassessment of the firm, or (b) on any reduction or enhancement made in the income of the firm under this section, section 154, section 250, se....