9911796707
TMI Blog1977 (4) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... pellate Assistant commissioner in respect of the addition to the tune of Rs. 5,000 and it was held by the Appellate Assistant commissioner that there was no justification for making the said addition of Rs. 5,000 as the assessee could satisfactorily explain the source of this credit. Subsequently, the Income-tax Officer initiated proceedings under s. 147(A) of the Act for the assessment year 1960-61in respect of the same amount of Rs. 35,000 which was originally assessed in the assessment year 1961-62. 2. When the matter was taken on appeal, the Appellate Assistant commissioner noticed that the Income-tax Officer, obviously, had taken action under s. 147(A) of the Act. He found that the assessee had furnished all the relevant material part ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax,Bombay, (1) Ice and General Mills vs. Income-tax Officer, Central Circle-II,Meerut(2), Lakhamani Mewal Dass vs. Income-tax Officer, 'I' Ward, Disst.VI,and others(3), Income-tax Officer, I Ward Disst-VI,Calcutta, and Ors. vs. Lakhmani Mewal Dass(4), Grahama Trading Co.(India) Ltd. vs. Income-tyax Officer,Central Circle-I, and others, Gemini Leather Stores vs. Income-tax Officer, B-Ward,Agraand others(5). In view of the ratio of the decisions in the above case, it was submitted that the Appellate Assistant commissioner in this case was not justified in holding that the notice issued under s. 148 was not legal. 4. The learned counsel appearing on behalf of the assessee, on the other hand, supported the order of the Appellate Assi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in our view, the only duty cast on him is to furnish the material particulars required for completing the assessment proceedings. It is no doubt true that it is for the Income-tax Officer to draw proper inference from the materials that have been placed before him. However, if a wrong or an improper inference has been drawn by the Income-tax Officer, the assessee could not be found fault with on this account and it cannot be held that there has been any omission or failure on the part of the assessee as contemplated under s. 147(A) of the Act. Our view finds support from the decision of the Punjab High Court in the case of Karam Chand Kakkar vs. Income-tax Officer, District II (ii),Amritsarand another (7). In this said case, their Lordship ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
