1980 (10) TMI 83

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....ted the assessee's contention, permitted him to change the previous year, and completed the assessment accordingly, For the asst. yr. 1975-76 on the basis of this change allowed by the ITO to the assessee the assessee had no income. The income originally assessable upto the period 31st March 1975 was included in the income assessable for the year ending 30th April, 1975 for the asst. yr. 1976-77. 2. The CIT looking into the records of the assessee as showing the above found that the order of the ITO dt. 31st Jan., 1977 determining the assessee's income for the asst. yr. 1975-76 at nil was erroneous insofar as it was prejudicial to the interest of the Revenue for the reasons (1) the ITO had omitted to take due notice of the fact that the ....

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.... April, 1975 should be filed for the asst. yr. 1975-76. This requirement in fact is a negation of the provisions of the statute with regard to the length of the previous year and in fact the Commr. 's directions in this regard would be anti-statute which cannot be accepted. The Commr. Has also, according to the ld. Counsel, arrived at the figure of prejudice to the Revenue on the basis of the tax effect that might result on the limited consideration of the position for this year only of the assessment of the partners and the other firms in which these partners were partners. In exercising his jurisdiction under s. 263 while the Commr. can took in to all the records relating to a particular assessee, according to the ld. Counsel there is ....