Y.R.Meena, J. - (1.) On an application under Section 256(1) of the Income-tax Act, 1961, the Tribunal has referred the following question for our opinion : "Whether, on the facts and circumstances of the case and on an interpretation of sections 139, 147 and 153 of the Income-tax Act, 1961, the Tribunal was correct in holding that the assessment was not barred by limitation ?"
(2.) For the assessment year 1987-88, the last date for filing the return under Section 139(1) of the Income-tax Act, 1961, was July 31, 1987. The assessee filed an application for extension of time on August 3, 1987. The time was allowed uptil October 31, 1987. The return could not be filed. He again filed the application for extension of time for filing the return and again the time was extended uptil February 28,1988. Even then the return was not filed by the assessee. The Assessing Officer has issued the notice under Section 148 on October, 1988. On March 30, 1989, the assessee filed the return declaring an income of Rs. 49,65,690. The assessment was made on August 22, 1990, under Section 143(3) read with Section 147(a) of the Act of 1961.
(3.) In appeal before the Commissioner of Income-tax (Appeals), the assessee has taken the ground that the return was filed under Section 139(4) of the Act of 1961 and limitation for making the assessment is only one year. As the assessment has been made after limitation the order of the Income-tax Officer is time barred. The Commissioner (Appeals) has taken the view that the return is filed in pursuance of the notice under Section 148, for that the limitation is four years and the assessment is completed on August 22, 1990. That is well within the limitation. The appeal was dismissed.;