1998 (8) TMI 39

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....ns have been referred to us, one at the instance of the Revenue and two at the instance of the assessee. The assessment year in question is 1978-79. The question referred to us at the instance of the Revenue is as under : "Whether, on the facts and in the circumstances of the case the Appellate Tribunal is correct in law in holding that the original assessment order got merged with the appellat....

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.... to act under section 263 of the Income-tax Act on the ground that dropping of proceedings commenced under section 147 was not synonymous in the circumstances of the case with an order of reassessment made under section 147 and, therefore, the bar prescribed by the provisions of section 263(2)(a) precluding the Commissioner of Income-tax from exercising his powers under section 263 did not operate....

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....am [1999] 236 ITR 878 (Mad), wherein it has been held that notwithstanding the fact that the initial assessment has been made in accordance with the direction given by the Inspecting Assistant Commissioner under section 144B of the Act, the Commissioner had jurisdiction to revise the order of the Income-tax Officer. So far as the third question is concerned, the Tribunal, in our view, has right....