TMI Blog1970 (12) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... society registered under the Co-operative Societies Act, which started business as a transporter on November 8, 1948. The profits of the assessee were exempt from income-tax and super-tax under the exemptions notified by the Central Government as per Finance Department Notification No. 878-F (Income-tax), dated March 21, 1922, as amended or added to from time to time, which notification had been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income-tax Officer. It is stated by the learned counsel for the assessee that the assessee never made a request for the change of the previous year to the Income-tax Officer nor did the Income tax Officer ever give his consent to that change. For the assessment year 1960-61, the assessee filed its return of income showing the previous year as ending on March 31, 1960. The Income-tax Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Income-tax Officer with regard to the previous year as per revised return filed. The assessee's appeal to the Income-tax Appellate Tribunal also failed on this point. The assessee then filed an application under section 66(1) of the Act which was allowed and the following question of law has been referred to this court for opinion along with the statement of the case : " Whether, on the facts an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -56 to 1959-60, the assessee never made any application for the change nor did the Income tax Officer accord his consent thereto. It is, therefore, pleaded that the previous year which was shown for the assessment years up to 1955-56 should be deemed to have continued and the Income-tax Officer should have assessed the assessee for the assessment year 1960-61 on the basis of the previous year endi ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
