1982 (7) TMI 142

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....ion said to be a question of law arising out of its order dt. 13th April, 1982 in ITA No. 278/Chandi/80, to the High Court of Punjab and Haryana at Chandigarh: "Whether, on the facts and in the circumstances of the case, the Tribunal has been right in law in confirming the order of the AAC cancelling the reassessment framed by the ITO?" In as much as, in our opinion, since the reference of t....

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....t income of minors from 1st Oct., 1975 to 31st March, 1976 has been included in the income of the assessee. 3. Subsequently in the light of the following reasons, the ITO issued a notice under s. 148: "27th June, 1979 The assessee had added back half share of profit of minors under s. 64 (Sh. Anup Kumar and Sh. Ajay Kumar, minors) with the argument that Amendment Act comes into force w.e.....

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....he reasons and while framing the assessment under s. 143(3) r/w s. 148 included the share income of the two minors for the whole of the accounting period ending on 31st March, 1976. 4. When the assessee carried the matter before the AAC, he disputed the very proceedings initiated under s. 147 and the AAC accepting the same cancelled the order of the ITO, as she came to a finding that it was as ....

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....a note for the order of the other period 1st April, 1975 to 30th Sept., 1975 that the same has been filed in the hands of the minors. Perusal of the original assessment order also shows a mention of the minors income for the specified periods. Perusal of the reasons recorded also shows that it is in r/o audit objection which deals with the applicability of amendment observing that it does not cove....