COMMISSIONER OF INCOME TAX Vs. HOTEL HIGHLAND PARK

JUDGEMENT

(1.) BY this reference under section 256(1) of the Income-tax Act, 1961 ("Act"), the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar ("Tribunal") has referred the following questions of law to this Court for opinion at the instance of the revenue :

(2.) WE have heard the learned counsel for the revenue and perused the order of the Tribunal.The real controversy in this case, which pertains to the the validity of the assessment order, now stands concluded by the ratio of the decision of the Supreme Court in Kalyankumar Ray v. CIT (1991) 191 ITR 634 and the decision of this Court rendered on 26th June, 2000 in CIT v. M/S Alkeensons Agencies (I.T.Reference 7 of 1979), wherein it has been held that the statute does not require that both the computations, that is, of the total income as well as of the sum payable, should be done on the same sheet of paper ,viz., the assessment order ; it is sufficient compliance with the requirements of section 143(3) of the Income-tax Act ,1961 if the tax payable is also computed and the computation is approved by the Income-tax Officer ,either immediately or some time later. In the instant case, there is no dispute about the fact that the tax payable had been duly determined in a separate sheet, namely, assessment form (ITNS-150), which was prepared and signed by the Income-tax Officer simultaneously with the assessment order. That being so, the ratio of the decision of the Supreme Court in Kalyankumar Ray v. CIT (supra) and of this Court in CIT v. Alkeensons Agencies (supra) is fully applicable. The assessment order is a valid and legal order. There is no infirmity in the same. The decision of this Court in S.Mubarak Shah Naqashbandi v. CIT (1977) 110 ITR 217 has no application to the facts and circumstances of the present case. Question No.1 is, therefore, answered in the negative, that is, in favour of the revenue and against the assessee.