Guwahati Court December 1997 Judgments

Thakursidas Banwarilal Vs. Commissioner of Income-tax and ors.

Court: Guwahati

D.N. Chowdhury, J. 1. The legality of the proceeding under Section 147 of the Income-tax Act, 1961, as well as the notice dated March 30, 1987, issued by respondent No. 4 in exercise of power under Section 148 of the Income-tax Act, 1961, for reopening the income-tax assessment for the assessment year 1982-83 is the subject-matter of this proceeding. 2. The petitioner filed its return of income for the assessment year 1982-83 on November 26, 1982, showing its total income at Rs. 14,340. The assessment was completed by respondent No. 4 on examination of the books of account produced in compliance with the notice issued under Section 143(2) of the Act, vide order dated January 19, 1983. The petitioner preferred appeal against the assessment challenging disallowances of certain expenses which were also finally disposed of. A survey was conducted by the Income-tax Officer along with other officers on February 27, 1985, in the business premises of the petitioner/firm. According to the pe...