TMI Blog1933 (1) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... een referred is: Whether the amount of tax which would have been avoided if the income returned by the petitioner had been accepted as correct was computed in accordance with the provisions of s. 28, Income-Tax Act, 1922. Section 28, so far as it is material, runs as follows: 28(1). If the Income-Tax Officer, the Assistant Commissioner or the Commissioner, in the course of any proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ared an income of ₹ 6,310. As set out in the reference. in the course of the assessment proceedings the Income-Tax Officer discovered that the accounts produced did not contain the whole of the assessees' money-lending transactions, and that the assessees had other accounts which were not produced. The Income-Tax Officer in these circumstances made the assessment under Section 23(4), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessees to adduce evidence of the income that in truth and in fact had accrued to them in the course of the year of assessment. Now Section 28 relates not to an assessment of income for the purpose of income-tax, but to the imposition of a penalty for making a deliberately false return of income; and by taking proceedings under Section 28 the assessment of income for income-tax can neither be a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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