9911796707
TMI Blog1967 (7) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... he capital account of the appellant. On November 13, 1947, this amount was credited in the books of the appellant. On October 30, 1948, this amount was transferred to the account of one Amrithlal Ranchoodas, the father-in-law of the appellant. The Income-tax Officer included the said amount as income of the appellant from undisclosed sources in the assessment for the assessment year 1949-50. On appeal to the Appellate Assistant Commissioner the appellant contended that the amount could not be included in the assessment year 1949-50, because the credit appeared prior to March 31, 1948. The Appellate Assistant Commissioner allowed the appeal holding that the credit came into the books of the appellant on November 13, 1947, i. e., in the finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssistant Commissioner in the appeal against the assessment for 1949-50 should be taken to contain a finding that the sum of Rs. 25,000 represented income of the assessee to be considered in the assessment year 1948-49". At the instance of the appellant the Appellate Tribunal referred the following questions of law for the opinion of the High Court under section 66(1) of the Act : "(1) Whether, on the facts and in the circumstances of the case, the proceedings initiated against the assessee for the assessment year 1948-49 under section 34 and the assessment for the said year are barred by limitation and hence not lawful ? (2) Whether the proceedings initiated against the assessee for the assessment year 1948-49 under section 34 and the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uthority, as the case may be, was empowered to give under the sections mentioned in that proviso. A finding therefore, could only be that which was necessary for the disposal of an appeal in respect of an assessment of a particular year. The Appellate Assistant Commissioner might hold, on the evidence, that the income shown by the assessee was not the income for the relevant year and thereby exclude that income from the assessment of the year under appeal. The finding in that context was that the income did not belong to the relevant year. He might incidentally find that the income belonged to another year, but that was not a finding necessary for the disposal of an appeal in respect of the year of assessment in question. It was further hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1959, read as follows : "No notice issued under clause (a) of sub-section (1) of section 34 of the principal Act at any time before the commencement of this Act and no assessment, reassessment or settlement made or other proceedings taken in consequence of such notice shall be called in question in any court, tribunal or other authority merely on the ground that at the time the notice was issued or at the time the assessment or reassessment was made the time within which such notice should have been issued or the assessment or reassessment should have been made under that section as in force before its amendment by clause (a) of section 18 of the Finance Act, 1956 (18 of 1956), had expired." Mr. Veda Vyasa referred to the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Swaminathan raised the objection that the point was not taken up by the respondent in the High Court, nor was there any reference to it in the statement of the case filed by the respondent. It was also contended that the point said was outside the scope of the questions of law referred by the Appellate Tribunal to the High Court. We do not think there is any substance in one objection raised on behalf of the appellant. One of the questions referred to the High Court is : "Whether on the facts and in the circumstances of the case, the assessment made is saved from the bar of limitation under the second proviso to section 34(3) ?" It is true that the impact of the Amending Act, 1959 (1 of 1959), was not raised before the Appellate Tribunal o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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