TaxTMI 
TaxTMI 
2006 (8) TMI 154
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....circumstances of the case, the learned Tribunal has interpreted the statutory language as is contained under section 153 appropriately and legally and whether the learned Tribunal is legally justified to come to the conclusion that the present assessment order is clearly barred by limitation and is valid? (2) Whether, on the facts and in the circumstances of the case on a reading of the agreement it is correct to interpret that the assessee-company is not a selling agent and as such an independent contractor under this agreement and that the act of the principal, i.e., the Orissa Forest Department or the State Government? (3) Whether, on the facts and in the circumstances of the case on a reading of the agreement entered into between ....
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....gher than the price fixed and specified in clause 16 of the agreement, i.e. Rs. 285 per quintal. The Kendu Leaves Co-ordination Committee decided in its meeting held on August 9, 1978, that the agreement between the Government and the assessee should be adopted with the modification that in case the average selling price of kendu leaves would be more than the amount (cost of production + royalty + marketing expenses) indicated in the agreement, the excess could be paid to the Government. The Committee also declined to grant rebate on the royalty for 1973 and 1974 crops. The assessee's accounting period ended on March 31, 1978, and it made a provision for payment of collected additional amount of Rs. 1,35,92,730 to the State Government. T....
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....the order of assessment for the assessment year 1978-79 was passed by the Assessing Officer on March 31, 1989. The said order was again challenged before the Commissioner of Income-tax (Appeals) on various grounds including on the ground that the order of assessment made was barred by limitation. It was contended that since the assessment had been reopened under section 146 of the Income-tax Act, fresh assessment was to be completed within the time-limit prescribed under sub-section (2A) of section 153 of the Income-tax Act. It was further argued before the Commissioner of Income-tax (Appeals) that since the proceedings had been initiated by issuance of notice under section 148 of the Act, the time limit under section 153(1)(c) of the Act d....
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....f section 153(2A) of the Income-tax Act. Accordingly, learned counsel for the Revenue submitted that there was no infirmity in the order of the Commissioner of Income-tax (Appeals) who rightly held that there was no limitation in passing the order of assessment. In this regard, Mr. S. N. Ratho, learned counsel for the respondent-assessee, submitted that the language of section 153(2A) was clear and that the assessment order should have been passed on or before March 31, 1985, and therefore the present order of assessment was clearly barred by limitation. According to him, clause (c) of sub-section (1) of section 153 deals with period of limitation regarding filing of revised return but sub-section (2A) was silent in that regard. Let us now ....