TMI Blog1973 (3) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... it in the nature of mandamus commanding the respondent to withdraw or cancel the notice dated March 19, 1969, issued under section 148 of the Income-tax Act, 1961, for the assessment year 1960-61. The application also seeks for the issue of a writ in the nature of certiorari, inter alia, for quashing or setting aside the said impugned notice. The petitioner is a partnership firm registered under the Indian Partnership Act. The petitioner is also registered under the provisions of the Income-tax Act. The partners of the petitioner are Biswanath Samanta, Tarapada Daw and Prasanta Samanta. For the assessment year 1960-61 the Income-tax Officer, A-Ward, Special Survey Circle II, Calcutta, completed the assessment of the petitioner under secti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n money of 30,000 2. Seth Noorsumal Gangaram do. 15,000 3. Seth Vishandas Moolchand do. 25,000 4. Ghanshyamdas Asoke Kumar do. 15,000 5. Murlidhar Kanayalal do. 15,000 6. Tiratdas Sons do. 20,000 7. Mohansing Kanayalal do. 20,000 8. Vashuram Gokuldas do. 45,000 9. Dwarkadas Pailajrai do. 5,000 10. Bhagwandas Purushottamdas do. 20,000 11. Teekamdas Madhabdas do. 15,000 ---------------- 2,25,000 ----------------- Thus it is seen that at the time of the original assessment, the assessee failed to disclose its income from other sources representing unaccounted money introduced in the shape of bogus loans." In short, the deponent in the aforesaid affidavit has disclosed the following reasons for the issue of the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o say, 1960-61. It has not been stated that even during the relevant year, that is to say, assessment year 1960-61, the assessee showed any loan from any of the parties mentioned in paragraph 3 of the said affidavit. From a perusal of the said affidavit and in particular the reasons stated therein for issuing the said impugned notice I am constrained to conclude that the reason for issuing the impugned notice was the change of opinion and not discovery of any new material. In the premises, I have to hold that the conditions precedent to the issue of the notice under section 148 of the new Act, namely, that the Income-tax Officer had reason to believe that income, profits or gains chargeable to income-tax of the assessee had been under-asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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