TMI Blog1990 (8) TMI 121X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome-tax Officer to issue notices under section 148 read with section 147(a) of the Income-tax Act, 1961, for the assessment years 1983-84 and 1984-85. The assessment for the assessment year 1983-84 was originally completed under section 143(3) on October 31, 1985. The assessment for the assessment year 1984-85 was completed on March 23, 1987. The assessment for the assessment year 1983-84 was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i Engineering Works Ltd. [1979] 118 ITR 1. Dr. Balasubramanian stated on behalf of the Department that the two decisions relied upon by learned counsel for the petitioner were not applicable in this case. In both those cases, the Incometax Officer had, during the course of original assessment proceedings, accepted the petitioner's claim without making any inquiry and there was, thus no question of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tur for the petitioner. It is true that in Burlop Dealers Ltd. [1971] 79 ITR 609, the Supreme Court has held that after an assessee has disclosed material facts fully and truly, it was for the Income-tax Officer to draw correct inference therefrom. If he had drawn one inference at the time of original assessment, it was not open to him to say, on the basis of some enquiry in a subsequent assessmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntries in the books of account showing the payment of interest paid by it were bogus. In Burlop Dealers Ltd.'s case [1971] 79 ITR 609 (SC), the assesseecompany had disclosed a profit of Rs. 1,75,875 from a joint venture and claimed that half of it was paid to one R under an agreement dated October 7, 1948, for financing the transactions in the joint venture. The claim was accepted. In the subseq ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es of persons from whom it had made purchases exceeding Rs. 1 lakh by letter dated October 30, 1985. The assessments were completed long thereafter, i.e., on October 31, 1985, and March 23, 1987. Thus, when the Income-tax Officer completed the assessments, the necessary material was before him. In my judgment, the Supreme Court decisions relied upon by Shri Dastur are squarely applicable to the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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