TMI Blog1978 (7) TMI 47X X X X Extracts X X X X X X X X Extracts X X X X ..... entine Lane, Calcutta, which had an account in its name in the Dharmatolla Branch of the Hooghly Bank Ltd., the ITO reopened the said assessment on the 29th March, 1951, under s. 34 of the Indian I.T. Act, 1922. The assessee appeared through his authorised representative at the said reassessment proceeding though he was directed to appear personally in the course of which it was admitted that the assessee had two accounts in the said bank not disclosed in the original assessment. The pass book of only one of the said accounts was produced. From the copy of the accounts of Oriental Traders obtained by the ITO it appeared that the sole proprietor of the said business was one Mriganka Mohan Sur. The other records in respect of the said account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the same name as the assessee had operated the said account as the proprietor of the said Oriental Traders. (b) Premises No. 70, Serpentine Lane, Calcutta, the address of the said Oriental Traders was partly owned by the assessee. (c) There was no other person having the same name and surname as that of the assessee in the said premises No. 70, Serpentine Lane, Calcutta. (d) The assessee, an established constituent of the said bank and related to persons in management of the said bank, had other accounts in his own name and in respect of his other businesses and concerns, e.g., Sur Enamel Stamping Works Ltd., in the same bank. (e) It was inconceivable that a stranger would operate the said account of Oriental Traders in the n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... categorically denied that he had any connection with the said Oriental Traders or with the latters' bank account. The relevant records of the bank were not available and the law did not cast any obligation on the assessee to prove the negative. Dr. Pal urged that the only documents which could establish the connection of the assessee with the said bank account were the account opening form, the specimen signature card and cheques signed by the assessee, none of which were produced. There was no evidence that the assessee operated the said account or that any money was transferred to the said account. The Tribunal was wrong in assuming that the said account was operated by the assessee and as such its conclusion was based on mere conjecture ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment, the ITO received information that the assessee had business transactions with one Messrs. Mangalchand Basantilal of Khurja, income from which had escaped assessment, and proceedings were initiated under s. 34 of the Indian I.T. Act, 1922. The assessee admitted such transactions but contended that as the income related to his zamindary it was not taxable and was not, therefore, recorded in his books of account. The ITO rejected such contention and added the same to the income of the assessee. On appeal, the AAC found that the assessee was carrying on business in Khurja in several names but reduced the income added by the ITO. On further appeal, the Tribunal further reduced the said income but otherwise confirmed the findings of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... acts, the cumulative effect whereof may be considered to judge the soundness of the conclusion. On such facts, it appears, that there was no dispute that one Mriganka Mohan Sur was the proprietor of Oriental Traders and the account in the latter's name in the Hooghly Bank Ltd. was operated by the said Mriganka Mohan Sur. What is to be determined is whether the said Mriganka Mohan Sur was the assessee. The address of the said Oriental Traders was No. 70, Serpentine Lane, Calcutta, a property let out to various tenants and the assessee was a co-owner thereof having an one-third share therein. No other person in the said premises of the same name and surname as that of the assessee was found nor was the existence of such a person esta ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
