Guwahati Court December 1980 Judgments

Commissioner of Income-tax, Etc. Vs. Maskara Tea Estate

Court: Guwahati

Lahiri, J. 1. The assessee had applied for registration. At long last the matter came up before the Income-tax Appellate Tribunal which by its order dated July 1, 1972, allowed registration to the assessee-firm for the assessment years 1961-62, 1962-63 and 1963-64. Of course, it held, as it was bound to hold, that the assessee was a genuine firm and was entitled to registration. However, the relevant previous year of the assessee, for the assessment year 1963-64, ended on March 31, 1963. Accordingly, the return under Section 139(1) of the I.T. Act, 1961, was due on September 30, 1963. A notice under Section 139(2) was served on the assessee which made an application for extension of time up to December 31, 1963. No application was made for further extension of time. A belated return was filed by the assessee on May 28, 1966, declaring an income of Rs. 47,455. The Income-tax Officer, for short, 'the ITO', completed the assessment at Rs. 53,096 which was reduced to Rs. 50,697 by the ap...