| Case ID |
3d510570-d0f0-471c-aade-daf793139dfb |
| Body |
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| Case Number |
TAX CASE (APPEAL) No. 572 OF 2004 |
| Decision Date |
Sep 07, 2004 |
| Hearing Date |
|
| Decision |
The Madras High Court ruled that the Assessing Officer's adjustments made during the assessment under section 143(1)(a) were not permissible as they involved substituting particulars from a different assessment year. The tribunal's conclusion that the Assessing Officer could not rectify arithmetical errors by substituting materials from prior years was upheld. The court found no substantial question of law warranting further determination, leading to the dismissal of the appeal. |
| Summary |
In the case of Asian Peroxides Ltd. v. Commissioner of Income Tax, the Madras High Court examined the application of section 143 of the Income-tax Act, 1961 regarding the assessment year 1991-92. The case stems from the Assessing Officer making adjustments to the assessee's return by adopting the written down value from the previous assessment year (1990-91) and disallowing excess depreciation. The assessee's petition for rectification under section 154 was rejected, leading to an appeal. The Commissioner (Appeals) upheld the Assessing Officer's decision, but the Tribunal later set aside this order, asserting that the Assessing Officer had exceeded his jurisdiction by substituting particulars from another year. The High Court ultimately agreed with the Tribunal's position, emphasizing that the provisions of section 143(1) only allow for rectification of errors directly related to the current assessment year. This case highlights important aspects of tax law, particularly concerning the limits of the Assessing Officer's authority and the principles of rectification of errors in tax assessments. |
| Court |
Madras High Court
|
| Entities Involved |
Commissioner of Income Tax,
Asian Peroxides Ltd.
|
| Judges |
P.D. Dinakaran,
K. Raviraja Pandian
|
| Lawyers |
T. Ravikumar
|
| Petitioners |
Asian Peroxides Ltd.
|
| Respondents |
Commissioner of Income Tax
|
| Citations |
2005 SLD 2387,
(2005) 275 ITR 68
|
| Other Citations |
Ram Nath Jindal v. CIT [2001] 252 ITR 590,
Indian Aluminium Co. Ltd. v. CIT [1986] 162 ITR 788
|
| Laws Involved |
Income-tax Act, 1961
|
| Sections |
143,
154
|