GOPI RAM LILA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE Tribunal has referred the following question of law arising out of its order dt. 21st June, 1985, in respect of the asst. yr. 1977-78 under s. 256(1) of the IT Act, 1961 :

(2.) THE brief facts of the case are that reassessment proceedings under s. 148 were initiated. THE ITO has levied the interest under s. 139(8) for delay in filing the return and also interest under s. 217 for non-payment of advance tax. THE assessee contended before the AAC that reassessment proceedings are different from regular assessment proceedings in view of (the definition of) regular assessment contained in s. 2(40) of the Act. THE AAC set aside the interest levied. THE matter was challenged before the Tribunal and the Tribunal found that the assessment would have been completed by 31st March, 1980, and, therefore, the ITO could have issued the notice. It was found that notice under s. 148 was issued before the expiry of last date i.e. 31st March, 1980, and the assessee having filed the return on 25th Feb., 1980, the ITO was justified in levying the interest on the ground that the notice under s. 148 is to be treated as the notice under s. 139(2).