1997 (4) TMI 33

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....truction, a partnership firm, has prayed for quashing the order of the Income-tax Officer, dated November 18, 1996 (annexure-3 series), under section 143(1)/184 of the Income-tax Act and to declare that the effect of the Central Board of Direct Taxes Circular No. 737, dated February 23, 1996, cannot be applied retrospectively so as to take away the petitioner's right duly accrued under the provisi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent, Circular No. 684, of the Central Board of Direct Taxes was in force and later modified vide Circular No. 737, dated February 23, 1996. Therefore, the assessee was entitled to have the assessment made and completed in accordance with the previous circular. In support of such a proposition reliance was made to a case of CIT v. B. M. Edward, India Sea Foods [1979] 119 ITR 334 (Ker) [FB]. Relianc....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Income-tax Officer, Circular No. 737, had already occupied the field. Because I have already noticed that final order of assessment in this case was passed on November 18, 1996, whereas the circular was already brought into effect on February 23, 1996. That apart Mr. Rastogi pointed out that the relevant part of the Circular No. 684, was contrary to the provisions of the Act and as such it was....