1982 (9) TMI 7

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....oner is partnership firm and is assessed to income-tax. For the assessment year 1979-80, the petitioner had returned an income of Rs. 4,37,049. The ITO, acting under s. 144B of the I.T. Act, 1961 (" the Act "), passed a draft assessment order determining the income of the petitioner at Rs. 5,25,020. Since, according to the ITO, the variation in the income returned and proposed in the draft orde....

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....ber 16, 1982. The petitioner has challenged annex. F, which is the notice by the IAC on the ground that in view of the fact that the draft order did not show a variation of Rs. 1,00,000 between the returned and the proposed incomes, the IAC had no jurisdiction to act under s. 144B. After hearing the learned counsel, we find that this petition has to be dismissed. The validity of the order of re....

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....itution. Admittedly, there are remedies of appeals before the Commissioner (Appeals) and the Tribunal, available to the petitioner. If a question of law arises, a reference can be made to this court. Prima facie it appears that the ITO by rectifying his order, brought the draft assessment within the requirements of s. 144B, and, therefore, the IAC had jurisdiction to take further steps in accordan....