Andhra Pradesh Court March 1964 Judgments
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Mercantile Tobacco Corporation Vs. Commissioner of Income-tax, Andhra ...
Court: Andhra Pradesh
Decided on: Mar-03-1964
Reported in: [1965]57ITR483(AP)
The petitioner seeks a writ of mandamus to compel the commissioner of Income-tax, Hyderabad, to hear and determine on merits the revision filed by it against the order dated January 13, 1960, of the Appellate Assistant Commissioner of Income-tax, Guntur, who affirmed the assessment of the Income-tax Officer, Guntur, and dismissed the petitioners appeal. The facts are not in dispute and lie within a brief compass. The petitioner as a tracer in tobaco has been an income-tax assessee. In respect of the assessment year 1958-59, there arose a difference between the petitioner and the Income-tax Officer, Guntur, regarding the inclusion of a sum of Rs. 14,000 in the petitioners return. The Income-tax Officer eventually held that this sum of money was the petitioners undisclosed income and had, therefore, to be added to the income shown in his return for the purpose of computing the income-tax payable by him. An assessment order on this basis was made by the Income-tax Officer on September 26,...
Mahalakshmi Rice and Oil Mill Vs. Commissioner of Income-tax, Andhra P ...
Court: Andhra Pradesh
Decided on: Mar-03-1964
Reported in: [1965]55ITR462(AP)
The judgment of the court was delivered byCHANDRA REDDY C.J. - The question to be answered by us under section 66(1) of the Indian Income-tax Act, 1922 (XI of 1922) is formulated in these words :'Whether on the facts and in the circumstances of the case the sum of Rs. 44,000 was income liable to assessment in the assessment year 1956-57 or was income liable to assessment in the assessment year 1955-56 ?'The assessee is a partnership carrying on business of milling paddy into rice and selling it. In the year 1954, that is, on the 9th May, 1954, the assessee was appointed as the procuring agent by the Government of Andhra State for procuring paddy under the Voluntary Procurement of Paddy and Compulsory Procurement of Paddy Schemes. After procuring the paddy, the assessee had to mill it into rice and hold the stocks on behalf of the Government of India. Under the terms of the agreement the assessee had to purchase from producers paddy with his own funds under the schemes mentioned above a...
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