2006 (11) TMI 196

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....e following question of law has been referred for the opinion of this court by the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar, arising out of its order dated April 30, 1990, passed in I. T. A. Nos. 608 to 611/ASR./1990, in respect of the assessment year 1977-78. "Whether, on the facts and in the circumstance of the case, the Tribunal was right in law in interpreting the word 'reduc....

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....ars from the end of the financial year in which the order in the case of the firm was passed was beyond limitation. The Commissioner of Income-tax (Appeals) accepted this objection which view was upheld by the Tribunal rejecting the objection on behalf of the Revenue that finalisation of the assessment of the firm by the Commissioner of Income-tax (Appeals) was on August 17, 1987, and limitation s....

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....tion to the rival submissions. Section 155(1) at the material time was to the following effect : '155. (1) where in respect of any completed assessment of a partner in a firm it is found : (a) on the assessment or reassessment of the firm, or (b) on any reduction or enhancement made in the income of the firm under this section, section 154, section 250, section 254, section 260, section 2....

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....r was passed in the case of the firm or where there was any reduction or enhancement made in the income of the firm under sections 155, 154, section 250, or section 254, 260, 262, 263 or section 264 then within four years from the end of the financial year in which such order was passed by the appellate or revisionary authority, etc., was passed. The extended jurisdiction under clause (b) of sub-s....