CIT Vs. BANK OF RAJASTHAN LTD

JUDGEMENT

(1.) THESE are four matters, closely interconnected with each other. Appeals No. 47/2002, 48/2002 and 63/2004 are by the Revenue, seeking to challenge the order of the ITAT, upholding the acceptance of the application of the assessee, filed under Section 154 of the Income tax Act, while Civil Writ, being No. 2568/1993, is by the assessee.

(2.) FIRST of all, we take up the appeals of the Revenue. The three appeals relate to the different assessment years, inasmuch as the Appeal No. 47/2002 relates to assessment year 1991 -92, the Appeal No. 48/2002 relates to assessment year 1992 -93 and Appeal No. 63/2004 relates to assessment year 1993 -94.

(3.) THE facts necessary for the present controversy are, that the Department sent an information to the assessee under Section 143(1)(a) of the act, conveying, that the assessee is liable to the amount of tax, mentioned therein. The assessee thereupon filed application under Section 154 of the Act, which was rejected by the Dy. Commissioner (Assessment), Special Range. However, the learned Commissioner set aside that order, and allowed application Under Section 154, and that order of the Commissioner has been upheld by the learned ITAT.