1996 (10) TMI 20

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....n the facts and in the circumstances of the case, the Tribunal is right in law in holding that once reassessment proceedings have resulted in reassessment of the income of the assessee, the original assessment order can no longer survive? 2. Whether, on the facts and in the circumstances of the case and in the light of the observation of the Supreme Court in CIT v. Onkar Saran and Sons [1992] 195....

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....that the subsequent decision in CIT v. Sun Engineering Works P. Ltd. [1992] 198 ITR 297 (SC) of the apex court, considering the situation, reached the conclusion that the reassessment does not result in the wiping out of the original assessment. Learned senior tax counsel submits that the decision in CIT v. Sun Engineering Works P. Ltd. [1992] 198 ITR 297 (SC) being a later decision, should rule t....

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....e under assessment that gets set aside and not the entire assessment when reassessment proceedings are initiated. It is further clarified that the officer cannot make an order of reassessment inconsistent with the original order of assessment in respect of matters which are not the subject-matter of proceedings under section 147 of the Act. The assessee also cannot resist reassessment proceedings ....

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....income, it is observed, it is only the determination of the correct total income for the assessment year in question that is being redone. In the process of reasoning, in the context, the apex court has also referred to its earlier decision in V. Jaganmohan Rao v. CIT/CEPT [1970] 75 ITR 373. The apex court has emphasised the purpose of reassessment proceedings. However, in the light of the subsequ....