Commissioner Of Income Tax, Faridabad v. Mr. Darshan Kumar

IN THE HIGH COURT OF PUNJAB AND HARYANA ATCHANDIGARH. I.T.A. No. 529 of 2006DATE OF DECISION : 22.04.2008 Commissioner of Income Tax, Faridabad .... APPELLANT Versus Mr. Darshan Kumar C/o Rakesh Raj & Associates, Faridabad ..... RESPONDENTS CORAM :- HON'BLE MR. JUSTICE SATISH KUMAR MITTALHON'BLE MR. JUSTICE RAKESH KUMAR GARG Present:Mr. Yogesh Putney, Advocate,for the appellant-revenue. Mr. S.K. Mukhi, Advocate,for the respondent-assessee. * * * SATISH KUMAR MITTAL , J. ( Oral ) The revenue has filed this appeal under Section 260-A of theIncome Tax Act against the order dated 19.1.2006, passed by the IncomeTax Appellate Tribunal, Delhi Bench `E' Delhi in ITA No. 1117 (Del) of2004 for the assessment year 1994-95, raising the following substantialquestion of law for consideration of this Court : “Whether on the facts and circumstances o the case, the ITAT isright in law in deleting addition of Rs. 8,05,000/- by quashingthe assessment made under Section 143 (3) read with Section147 of the Income Tax Act, in view of the second proviso to sub section (1) of section 148 inserted by the Finance Act, 2006with retrospective effect from 01.10.1991.” We have heard counsel for both the parties. Undisputedly, when the Tribunal passed the impugned order on19.1.2006, the amendment inserted in section 148 of the Income Tax Act bythe Finance Act, 2006 with retrospective effect from 1.10.1991 was notconsidered, as there was no occasion for the Tribunal to consider it, becausethe same was effected subsequently. In view of this fact, counsel for boththe parties have agreed that the impugned order be set aside and the matterbe remitted to the Tribunal to consider the matter afresh in the light of theaforesaid amendment as well as on merits. In view of the above, the impugned order dated 19.1.2006,passed by the Income Tax Appellate Tribunal, Delhi Bench `E' Delhi is setaside and the matter is remanded to the Tribunal to consider the matterafresh in the light of the amendment inserted in section 148 of the IncomeTax Act by the Finance Act, 2006 with retrospective effect from 1.10.1991,as well as on merits, in accordance with law. Appeal stands disposed of accordingly. ( SATISH KUMAR MITTAL )JUDGEJUDGE ( RAKESH KUMAR GARG )JUDGE