9911796707
Advanced Search 
TMI Blog1987 (11) TMI 48X X X X Extracts X X X X X X X X Extracts X X X X ..... ions are referred under section 256(1) of the Income-tax Act, 1961, at the instance of the assessee. They are: "1. Whether, on the facts and in the circumstances of the case, the reassessment proceedings initiated by the Income-tax Officer under section 147(a) of the Income-tax Act for the assessment year 1969-70 are valid ? 2. Whether, on the facts and in the circumstances of the case, the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich were allotted to the assessee were not at all transported to the destination points as per the allotment orders, but disposed of at or near about the port and that the assessee created bogus evidence supporting the plea of transport. On the basis of the said information, the assessment was reopened and the said vouchers were rejected. It was held by the Income-tax Officer that the vouchers pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sment was proper. Section 139 of the Act requires every person, whose total income exceeds the maximum amount which is not chargeable to income-tax, to furnish a return of his income in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed. Section 140 prescribes by whom the return of income is to be signed. The Income-tax Rules pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c and primary facts. Not only is an assessee under an obligation to state all information and particulars but he is also under an obligation to state them truly and correctly to the best of his knowledge and belief. Inasmuch as in this case it has been found as fact that the vouchers produced by the assessee are false and fabricated, the reopening of the assessment was perfectly in order. Accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
