COMMISSIONER OF INCOME TAX Vs. C PALANIAPPAN

JUDGEMENT

(1.) THE above appeals are filed by the Revenue under Section 260-A of the income-tax Act, 1961 (hereinafter referred to as 'the Act') against the common order of the Income-tax Appellate Tribunal dated 18. 8. 20 04 made in ita. Nos. 909, 908, 907 and 910/mds/2003, raising the following substantial questions of law:

(2.) THE assessment years involved are 1991-92, 1990-91, 1989-90 and 1992-93 respectively. The facts relevant for the purpose of disposal of the appeals are as under:-

(3.) WE heard learned counsel for the parties. Learned counsel appearing for the Revenue submitted that the Appellate Tribunal failed to appreciate the fact that the assessment was completed only under section 143 (1) of the Act and hence, the reopening of assessment under section 147 of the Act to consider the correct quantum of interest allowable as deduction in computing the income from house property was correct as the assessee had not furnished relevant facts and evidence along with the return. Learned counsel further submitted that the Appellate Tribunal erred in its conclusion that in the case of reopened assessment, issue of notice under section 143 (2) of the Act within 12 months is statutory and the Tribunal was also wrong in deciding the issue on technical grounds without going into the merits of the case.