The question referred to this Court under section 66(1) of the Indian Income-tax Act ran:

“Was the Tribunal right in holding that the assessment in this case was made within the period of limitation prescribed under section 34(2) of the Act?”.

The facts necessary for the disposal of this case were never in dispute. The assessment was under section 34 of the Act, and the assessment year was 1942-43, the accounting year having ended with 12th April, 1942. The assessment was completed on 24th March, 1947. The assessment order as well as the demand notice under section 29 of the Act were despatched by the Income-tax Officer on 25th March, 1947. They were received by the assessee on 2nd April, 1947.

The relevant portion of section 34(2) of the Act ran:

“No order of assessment..........or reassessment under sub-section (1) of this section shall be made after the expiry..............of four years from the end of the year in which the income, profits or gains were first assessable.”

The contention of the assessee, which was negatived by the departmental authorities and by the Appellate Tribunal, was that the assessment in question “was made” within the meaning of section 34(2) o