1975 (9) TMI 6

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....tional Commissioner of Income-tax was precluded from directing the Income-tax Officer under section 263 of the Act to levy interest under section 139(1)(iii) ? " The assessment relates to the year 1964-65. The assessee, which is firm, filed a return of its income for the assessment year in question on April 1, 1966, showing a total income of Rs. 97,469. Subsequently, on February 5, 1968, it filed a revised return declaring a total income of Rs. 1,61,375, which included business income of Rs. 81,757. The return of income had to be filed by December 31, 1964, under section 139(1) of the Act. However, since a notice under section 13(2) had been served, it was due on August 28, 1964. An application in Form No. 6 dated December 31, 1964, was ....

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....er of assessment was merged in the order of the Appellate Assistant Commissioner, the Additional Commissioner had no jurisdiction to revise the order of assessment under section 263 of the Act. The Additional Commissioner overruled the objections and directed the Income-tax Officer to revise his order. Against the said order, the assessee preferred an appeal before the Tribunal. The Tribunal upheld the contention of the assessee that inasmuch as the order of assessment passed by the Income-tax Officer was merged in the order of the Appellate Assistant Commissioner, the Additional Commissioner was precluded from taking proceedings under section 263 of the Act. Section 139(1) of the Act prescribes the time within which a person, if his ....