COMMISSIONER OF INCOME TAX Vs. PUSHPAK ENTERPRISES

JUDGEMENT

(1.) THE appellant herein has filed appeals under S. 260A of the IT Act, 1961 (hereinafter referred to as the 'Act') against the order dt. 19th Dec., 2000 passed by the Income tax Appellate Tribunal, Delhi Bench 'E', New Delhi (hereinafter referred to as the 'Tribunal') in ITA Nos. 231 & 232/Del/1994 and ITA Nos. 141 & 142/Del/1994 for the asst. year 1981 82 and 1982 83. The appellant has sought to raise the following substantial questions of law for consideration of this Court.

(2.) THE factual position, in a nutshell, is as follows : The assessee filed original return of income for the asst. year 1981 82 on 31st Aug., 2001, [sic 1982] declaring an income of Rs. 62,768 and for the asst. year 1982 83 on 1st Sept., 1982, declaring an income of Rs. 60,542. The assessment for the asst. year 1981 82 was completed under S. 143(1) and the income declared in the return was accepted. Similarly, the assessment for the asst. year 1982 83 was completed under S. 143(3) and the income of Rs. 60,790 was accepted vide order dt. 6th March, 1985.

(3.) AGGRIEVED by the said assessment, the assessee preferred appeals before the Commissioner of Income tax (Appeals) [in short, CIT(A)], which were registered as Appeal Nos. 191 & 192 of 1993 94. The assessee challenged the aforesaid order of the AO inter alia, on the ground that reopening of the assessment under S. 148 of the Act was barred by limitation and the provisions of ss. 147(b) of the Act would be applicable to the case of the assessee and not the provisions of S. 147(a) thereof. The said orders of assessment were also challenged on merits. The CIT(A) as regards the question of limitation, rejected the contentious of the assessee vide dt. 18th Oct., 1993. On merit, however, the AO granted a relief of Rs. 44,68,957 for the year 1981 82 and the interest charged under S. 215/217 of the Act was deleted. So far as asst. year 1982 83 is concerned, a relief of Rs. 43,43,126 was allowed along with directions regarding charging of interest under ss. 139(8) and 215/1217 of the Act.