TMI Blog1967 (3) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... - - - - Dated:- 7-3-1967 - Judge(s) : A. NARAYANA PAI., B. VENKATASWAMI. JUDGMENT The judgment of the court was delivered by NARAYANA PAI J. - In this reference at the instance of the assessee relating to his assessment for the assessment year 1957-58, the question referred is : "When the assessee has filed a return of loss and when the Income-tax Officer has concluded the assessment as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to have the said sum carried over to the subsequent assessment year 1957-58. Before all the authorities he relied upon the ruling of the Supreme Court in Esthuri Aswathiah v. Income-tax Officer. All the authorities have rejected the argument and also taken the view that the decision of the Supreme Court is not applicable to the facts of this case. The material facts in the case decided by the Su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd assessed the income as 'Nil'." The only distinction upon facts between that case and this case is that the assessment in that case was completed under sub-section (1) of section 23. The officer accepted the return as correct and completed without calling upon the assessee to produce evidence. But, in the present case, the case was not disposed of without issuing any notice to the assessee. As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t one for assessment and recovery of tax. It appears to us that the interpretation pressed on behalf of the assessee is in the circumstances of the case correct or should be accepted as correct. Even if it should be possible to say that the view passed on behalf of the department is not wholly impossible, there is better support in reason for the view pressed on behalf of the assessee. It is t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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