2002 (8) TMI 84

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....ing the appeal, the entire order of assessment was set aside and certain directions were given to the assessing authority to redo the assessment. Thereafter, a fresh assessment came to be made on February 2, 1983. That order of assessment was later revised and the revised order of assessment was made on March 11, 1985. The assessee did not have any grievance against the order of assessment, dated March 11, 1985, in which the Assessing Officer had taken the gross amount of the technical fees received by the assessee for the purpose of deduction under section 80-O. On July 1, 1985, the Supreme Court rendered a judgment in the case of Distributors (Baroda) Pvt. Ltd. v. Union of India [1985] 155 ITR 120 in which it was held that the Legislature....

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....made on September 20, 1985, first before the appellate authority and thereafter before the Tribunal, at the instance of the assessee, the following two questions have been referred to us for our consideration: "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in holding that the rectification of the order dated March 11, 1985, under section 154 by the order dated September 20, 1985, is not barred by limitation? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the overruling of the decision of the Supreme Court in the case of Cloth Traders Pvt. Ltd. v. Addl. CIT [1979] 118 ITR 243 by the later decision of the Supreme Court....