- (1.) THE controversy raised in this appeal is whether assessment in pursuance of direction of the Tribunal has been made within time -limit.
(2.) LEARNED counsel for the appellant submits that the assessment in consequence of the order of the Tribunal is not within time -limit. Learned counsel for the Department, Mr. Anuroop Singhi and Mrs. Parinitoo Jain submit that in view of provisions of Sub -section (1) of Section 150 of the IT Act, 1961, the assessment in pursuance of the direction of the Tribunal can be made at any time. Learned counsel for the Department further submit that even the counsel of the assessee before the Tribunal has admitted that the value of the gold and amount of Rs. 2,00,000 can be assessed in the asst. yr. 1988 -89.
(3.) THE finding of the Tribunal is in para 5 of its order and the relevant part where the admission of the learned counsel for the assessee has been recorded reads as under: 'We, therefore, accept the argument of the learned Authorised Representative that the value of gold and amount of Rs. 2 lakhs can be assessed only in asst. yr. 1988 -89 and cannot be assessed in asst. yr. 1989 -90 carries sufficient force.' ;