COMMISSIONER OF INCOME TAX Vs. VED & CO.

JUDGEMENT

(1.) THE asst. yr. 1994 -1995. reassessment on the ground that the assessee has wrongly claimed excessive deduction under s. 80 -O of the IT Act, 1961 and that income has escaped assessment.

(2.) SAME date notice was issued to the assessee under s. 148 of the Act requiring it to file its return of income.

(3.) IN CIT vs. Kelvinator of India Ltd. (2002) 174 CTR (Del)(FB) 617 : (2002) 256 ITR 1 (Del)(FB), a Full Bench of this Court observed that an order of assessment can be passed either in terms of sub -s. (1) of s. 143 or sub -s. (3) of s, 143 of the Act. Insofar as the present case is concerned, it is an admitted position that no assessment order was passed under s. 143(3) of the Act and that the return of the assessee was processed under s. 143(1) of the Act only on 11th