The appellant preferred an appeal on May 10, 1950 without depositing the amount of tax in respect of which he had appealed.
The Board of Revenue was of the opinion that Section 22 1 , as amended, applied to the case as the assessment was made, and the appeal was preferred, after the amendment came into force, and rejected the appeal.
However, this Court allowed the appeal on the ground that the vested right had accrued to the appellant to file the appeal in the year 1947 itself when the proceedings were initiated.
The appellant in that case lost till the High Court.
For revenue appeal, the same would be one as on the date disputed demand is negative by the appellate authority and number the one applicable during the period of assessment or as on the date of assessment.
On November 28, 1947, the appellant submitted a return to the Sales Tax Officer, who, finding that the turnover exceeded two lakh rupees, submitted the case to the Assistant Commissioner for disposal and the latter made an assessment on April 08, 1950.
K. SIKRI, J. By amendment in the Income Tax Act, 1961 hereinafter referred to as the IT Act in the year 1998, Section 260A was inserted providing for statutory appeal against the orders passed by the Income Tax Appellate Tribunal.
