9911796707
TMI Blog1970 (4) TMI 2X X X X Extracts X X X X X X X X Extracts X X X X ..... iven by the High Court of Calcutta in five references made by the Income-tax Appellate Tribunal, Bench " B ", Calcutta, under section 66(2) of the Income-tax Act, 1922. The High Court has answered the questions referred to it in favour of the assessee. In support of the return made by him, the assessee, a Hindu undivided family, carrying on business in various items including money-lending produce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment year 1953-54 had not been brought to account and another entry relating to the receipt of income during that year was not correct. Neither the Appellate Assistant Commissioner nor the Income-tax Officer found any mistake in the accounts relating to other accounting years. The two mistakes noticed by the Appellate Assistant Commissioner are insignificant mistakes. Further they afforded no b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Rs. 20,547 in the assessment year 1957-58. We are in agreement with the High Court that on the facts found by the Tribunal, it was not justified in holding that the additions made by the Income-tax Officer were in accordance with law. Those additions were arbitrarily made. No reasons were given to reject the accounts relating to the assessment years 1954-1955, 1955-56, 1956-57 and 1957-58. Fur ..... X X X X Extracts X X X X X X X X Extracts X X X X
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