TMI Blog1971 (7) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... 7-1971 - Judge(s) : K. S. HEGDE. and A. N. GROVER. JUDGMENT The judgment of the court was delivered by HEGDE J.-- This appeal by certificate has been brought by the Commissioner of Income-tax, Lucknow, and another. The respondent is one K. S. Rashid. He is ex-parte. The said K. S. Rashid is one of the partners in a Arm, M/s. K. S. Rashid Sons. He held one-third share in that firm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1, 1956, the Income-tax Officer, Delhi, reassessed the income of the firm at Rs. 6,24,833. The petitioners' share in the, income for the year 1947-48 was fixed at Rs. 2,08,277. On February 28, 1956, the Income-tax Officer, A-Ward, Meerut, passed an order under section 35(5) of the Indian Income-tax Act, 1922, holding that for the year 1947-48 the petitioner was liable to pay tax upon a net income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibullah , this court came to the conclusion that clause (5) of section 35 of the Indian Income-tax Act, 1922, which was enacted by the Income-tax (Amendment) Act, 1953, is not declaratory of the pre-existing law, nor a matter relating to procedure, but affects vested rights, and must be deemed to have come into force only from 1st April, 1952. It has no greater retrospective effect than has been e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssment had been made before 1st April, 1952, but there was a reassessment after that date. The impugned rectification was based on the reassessment. This court held, following the decision of Habibullah's case, and extending the ratio of the decision that the revenue had no competence to carry out the rectification in question. The correctness of the decision in Habibillah's case, as well as in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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