AJESH BINDAL, J. - (1.) IN this reference, the Income -tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short "the Tribunal"), vide its (1) of the IT Act, 1961 (for short "the Act), for the asst. yr. 1982 -83 for opinion of this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the proceedings once filed under the provisions of s. 263, on an issue, fresh proceedings under s. 263 cannot be initiated, within the time -limit allowed under the law, even if the later proceedings are initiated on a different issue -
(2.) AND plant and machinery to M/s Bakemans Home Products, a partnership firm and while framing the assessment, the lease income of the assessee company was wrongly assessed as business income. Accordingly, the investment allowance of Rs. 7,23,723, other expenses amounting to Rs. 50,111 and extra shift allowance on plant and machinery amounting to Rs. 1,15,865 were wrongly allowed by the Inspecting Asstt. Commr. (Asstt.). As the above deductions were not admissible against the lease income, proceedings under s. 263 of the Act were initiated by the Commissioner of Income - to why assessment order be not modified by passing suitable remedial orders. The proceedings initiated were the Act and directed the Inspecting Asstt. Commr. (Asstt.), Patiala, to frame a fresh assessment according to law after affording proper opportunity of hearing to the assessee. Being aggrieved, the assessee filed the appeal before the without jurisdiction.
(3.) A perusal of the order of the Tribunal shows that there is a finding of fact that earlier proceedings initiated under s. 263 of the Act and the proceedings initiated subsequently were not on different issues as the same relate to only one issue. The perversity of these findings is not an issue in the present case. While deciding IT Ref. No. 35 of 1991 CIT vs. Rieta Biscuits Co. (P) Ltd. arising out of orders passed by the Tribunal for the asst. yr. 1983 -84 on the issue of entitlement to deductions under s. 32A of the Act, the issue was decided in favour of the assessee and against the Revenue.;