Home Case Index All Cases Income Tax Income Tax + SC Income Tax - 1962 (11) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1962 (11) TMI 49 - SC - Income TaxWhether on the facts and circumstances of the case it was necessary for the Income-tax Officer to initiate action under section 34 of the Indian Income-tax Act in order to tax the deemed income distributed by virtue of the order under section 23A(1) of the Act made in the case of the A. C. E. C Private (India) Ltd. ? If the answer to question No. 1 is in the affirmative whether the notice served on 1st April, 1954, was out of time ? Held that:- Appeal dismissed. As an assessment cannot be made under section 23A of the Act because that section does not make provision for an assessment to be made and assessment can only be made under section 34 of the Act. Answer given by the High Court to the second question was correct and the assessment made under section 34(1)(b) of the Act after four years from the end of the relevant assessment year was out of time.
|