1976 (12) TMI 52

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....lore Bench, under section 256(1) of the Income-tax Act, 1961, has referred the following questions for the opinion of this court; " (1) Whether, on the facts and in the circumstances of the case, it has been rightly held that the proceedings under section 154 were rightly invoked ? (2) If the answer to the first question is ' yes ', whether it could be held that, in the facts and circumstanc....

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.... calculating the interest the Income-tax Officer had treated the assessee as a registered firm. On October 27, 1967, a, partner of the assessee appeared before the Income-tax Officer pursuant to the notice issued by him and stated that the assessee had no objection to the revision proposed by the Income-tax Officer. Thereafter, the Income-tax Officer passed an order on February 17, 1968, rectifyin....

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.... fact that one of the partners of the assessee, viz., Shri Chandulal Kamdar, appeared before the Income-tax Officer on October 27, 1967, and stated that the assessee had no objection to the proposed revision. Once the assessee had stated that it had no objection to the proposed revision and the Income-tax Officer had also revised the original assessment as proposed by him, the assessee could not b....