- (1.) We have heard counsel for the parties.
(2.) Learned counsel for the parties have drawn our notice to the relevant provisions of the Finance Act as it stood in the year 1994 and thereafter as it stood after the various amendments to the Act in subsequent years. Having considered the relevant provisions of the Act, the Tribunal has, inter alia, recorded the following conclusion : The above would show that even the amended Sec. 73 takes in only the case of assessees who are liable to file return u/s. 70. Admittedly, the liability to file return is cast on the appellants only u/s. 71A. The class of persons who come u/s. 71A is not brought under the net of Sec. 73. The above being the position show cause notices issued to the appellants invoking Sec. 73 are not maintainable.
(3.) We entirely agree with the conclusion arrived at by the Tribunal. We find no merit in these appeals and the same are, accordingly, dismissed. No order as to costs.;