TMI Blog1970 (1) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income-tax Officer in respect of the impugned notices. The original petition contains the usual grounds of challenge stating that the conditions precedent to the exercise of power under section 147 read with section 148 of the Act had not been satisfied. In the affidavit-in-opposition affirmed by Sebabrata Saha, the Income-tax Officer, "K" Ward, District III(2), Calcutta, and affirmed on the 28th July, 1966, it is stated that the proceedings for reassessment for the assessment year 1949-50 was started against the petitioner on receipt of certain informations. Information was received that a sum of Rs. 72,513-7-6 was standing in the name of Sri Manik Chand Nahata in the books of account of Messrs. Hanutmull Budhmall. It is further state ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1961, in order to make an assessment and/or recompute the income which had become barred under the Income-tax Act, 1922, at the date when the Income-tax Act, 1961, came into force." On the application for amendment I made the following order, by consent of parties, on the 9th December, 1969: "The petitioner will be allowed to urge the grounds taken in this application at the time of the hearing of the main rule. Main rule to appear in the peremptory list for hearing on December 22, 1969. A/O if any by December 16, 1969, A/R if any by December 20, 1969. This order is without prejudice to the rights and contentions of the parties:" It may be noted that no further affidavit-in-opposition was filed by the respondents pursuant to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or more in the aggregate either for that year or for that year and any other year. Relying on the statements of the Income-tax Officer in paragraph 2 of the affidavit-in-opposition, Dr. Pat contends that taking the figure of escaped income at its highest it cannot exceed a sum of Rs. 72,513-7-6. My attention is drawn in this connection to a letter dated the 21st April, 1968, which was addressed by the petitioner to the Income-tax Officer, "K" Ward, Distt. III(2), Calcutta, and which is annexure "C" to the petition. From the letter it appears that in the relevant accounting year a sum of Rs. 53,983-12-3 was standing in the name of the petitioner in the books of Hanutmull Budhmall of 143, Cotton Street, Calcutta. That sum included a sum of R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of the new Act. Reliance is placed in this connection on a decision of the Supreme Court in the case of J. P. Jani, Income-tax Officer v. Induprasad Devshanker Bhatt. In that case it was held that the Income-tax Officer cannot issue a notice under section 148 of the Income-tax Act, 1961, in order to reopen the assessment of an assessee in a case where the right to reopen the assessment was barred under the 1922 Act at the date when the new Act came into force (i.e., 1st April, 1962). It was not permissible to construe section 297(2)(d)(ii) of the new Act as reviving the right of the Income-tax Officer to reopen an assessment which was already barred under the old Act. Neither by express language nor by necessary implication d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d income for the year or any other year may amount to rupees one lakh or more in the aggregate. The satisfaction or belief or suspicion must necessarily be tentative because after the final adjudication it may be found that no income had escaped assessment at all. This is the context and background in which the expression "likely to amount" is to be construed. Mr. Sen did not contest the position that unless the factual basis, viz., that the amount of actual income was likely to exceed rupees one lakh, could be established, the revenue could not possibly get out of the mischief of the decision of the Supreme Court which I have mentioned above. Since there is no material before me to hold that the amount of escaped income in the instant ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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