AJOY BAKLI Vs. THE STATE OF WEST BENGAL

JUDGEMENT

(1.) This appeal was admitted on the following question of law:

(2.) The order from which the question was formulated for adjudication in appeal was dated 22nd February, 2005 passed by the Tribunal relating to the Assessment Year 1999-2000.

(3.) Mr. Khaitan, learned Senior Advocate appearing on behalf of the appellant assessee, submitted the return for the relevant assessment year was intimated to have been accepted under Section 143(1) of the Income Tax Act, 1961 on 8th August, 2000. According to him, that was not completion of the assessment in relation to such return filed. The assessee sought to file a revised return on 31st March, 2001 which was within the time provided under Section 139(5) of the said Act. He submitted intimation issued under Section 143(1) of the said Act cannot be said to be an assessment relying on the decision reported in the case of Assistant Commissioner of Income Tax versus Rajesh Jhaveri Stock Brokers (P) Ltd., 2007 291 ITR 500 , in particular paragraph 13 thereof. He submitted by that judgement it had been held assessment could not be said to have been completed on the issuance of intimation under Section 143(1) of the said Act. He also drew our attention to the judgment in Tarsem Kumar versus Income Tax Officer & Ors. : 256 CTR (P&H 116) rendered following the aforesaid judgment of the Hon'ble Supreme Court.