1992 (8) TMI 64

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.... SRIKRISHNA J. -This writ petition impugns an order of intimation dated January 30, 1990, issued under section 143(1)(a) of the Income-tax Act, 1961. The petitioner-bank returned a total income of Rs. 16,86,48,302 as its total income during the previous year relevant to the assessment year 1989-90. The petitioner had not included in its return a sum of Rs. 2,30,11,856 towards interest on securi....

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....tment did not fall within the purview of section 143(1)(a) of the Income-tax Act. Curiously enough, though the Commissioner accepted this contention as prima facie correct, he proceeded to consider the matter on the merits and took a view adverse to the petitioners and consequently dismissed the appeal. Section 143(1)(a) provides for issuance of an intimation and the first proviso thereto speci....

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....decision of a Division Bench of this court to which one of us (Mrs. Sujata Manohar J.) was a party in Khatau Junkar Ltd. v. K. S. Pathania [1992] 196 ITR 55). The impugned intimation dated January-30, 1990, is therefore, without jurisdiction and is hereby quashed and set aside. Consequently, the additional tax claimed from the petitioner is without authority and is hereby quashed and set aside. Th....