1981 (12) TMI 8

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.... 'E', New Delhi, has referred the following question for our opinion: " Whether, on the facts and in the circumstances of the case, and on the true interpretation of s. 3(1)(c) read with s. 3(4) (of the I.T. Act, 1961), the Appellate Tribunal was justified in holding that the assessment made on the basis of the previous year from 24th October, 1965, to 31st March, 1967, for the assessment year ....

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....eating the assessee as a registered firm under s. 183(b) of the Act, passed an assessment order. The assessee thereafter filed an appeal, and one of the contentions sought to be raised before the AAC was that inasmuch as in the first assessment year, i.e., 1965-66, the accounting period was taken to have ended on the 31st December, 1964, a change in the previous year for the assessment year 1967-6....

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....which the previous year can be changed, require the ITO to give his consent on such conditions as the ITO thought fit to impose, there should be a conscious act on the part of the ITO before it could be inferred that consent has been given. He drew our attention to Black's Dictionary where consent has been defined to mean an act of reason, accompanied with deliberation, the mind weighing as in a b....

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....can be implied from the fact that the assessee in his return had voluntarily changed the previous year and the ITO had acted on it. In the present case, we find that not only the assessee had voluntarily changed his previous year, and the ITO had acted on it, but the return was filed after a settlement was arrived at with the assessee and the Commissioner. Those three sets of facts clearly lead to....