BHARAT CONSTRUCTION COMPANY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Tribunal, Allahabad has referred the following question of law under s. 256(1) of the IT Act, 1961 (hereinafter referred to as "the Act") for opinion to this Court : "(1) Whether the Tribunal was legally justified in upholding the order of the AO, refusing to renew the registration without issuing show -cause notice and without affording any opportunity of being heard to the assessee for explaining the delay in furnishing the declaration within the specified time contemplated under s. 184(7) -

(2.) BRIEFLY stated the facts giving rise to the present reference are as follows : he reference relates to the asst. yr. 1992 -93. The applicant is a partnership firm. For the assessment year in question it did not file its return of income within the specified period whereupon notice under s. 142(1) of the Act was issued requiring it to file the return. When the return was not filed, a notice under s. 148 was issued but for reasons best known to the applicant, it did not file the return within the specified time. However, it filed the return of income on 31st continuation of the registration. The AO while passing the assessment under s. 144 of the Act refused the continuation of registration on the ground that the declaration was not filed within the time specified under s. 139 of the Act and the same is not in order. The appeal preferred by the applicant before the CIT as also the Tribunal insofar as is the question of continuation of registration was rejected.

(3.) WE have heard Sri Krishna Agrawal, learned counsel for the applicant and Sri A. N. Mahajan, learned standing counsel appearing on behalf of the Revenue.