Orissa Court April 1975 Judgments
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Commissioner of Income-tax Vs. Ghewarchand Kamalkumar
Court: Orissa
Decided on: Apr-03-1975
Reported in: [1977]108ITR398(Orissa)
R.N. Misra, J. 1. This is an application by the revenue under Section 256(2) of the Income-tax Act, 1961, for a direction to the Appellate Tribunal to state a case and refer the following question said to be of law for determination of this court:'Whether, in the facts and circumstances of the case, the Tribunal was justified in deleting the cash credits assessed as income from undisclosed sources and in cancelling the Appellate Assistant Commissioner's order setting aside the assessment for being made after re-examination ?'2. The assessee is a partnership firm deriving income from commission agency and wholesale business in groceries. While examining its books of account for the assessment year 1964-65 (corresponding to the previous year ending on April 19, 1964) the Income-tax Officer came across cash credits to the tune of Rs. 1,20,000 as per the following particulars:Rs.1.Sri Surekha Jute Co., Calcutta 25,0002.Sri Budhkaran Surekha, Calcutta 10,0003.Sri Budharmal Saraf, Calcutta 2...
Commissioner of Income-tax Vs. Gangaram Chapolia
Court: Orissa
Decided on: Apr-02-1975
Reported in: [1976]103ITR613(Orissa)
G.K. Misra, C.J. 1. Both the cases have been heard together as they arise out of same facts which may be stated in short. M/s. Gangaram Chapolia and Co. is a partnership firm constituted under a deed of partnership under the Indian Partnership Act, 1932 (hereinafter to be referred to as ' the firm ') Shri Gangaram Chapolia, Shri Babulal Chapolia, Shri-mati Sarada Devi Chapolia and Shrimati Rukmani Devi Chapolia are the partners of the firm. They are the petitioners, and the Commissioner of Income-tax, the Income-tax Officer and the Income-tax Appellate Tribunal are the opposite parties Nos. 1 to 3 in O.J.C. No. 684 of 1974. The Commissioner of Income-tax is the applicant and the firm is the respondent in S.J.C. No. 17 of 1973.2. For the assessment year 1964-65 the accounting year ended on the Ram Navami day (April 18, 1964). Under the provisions of the Income-tax Act, 1961 (hereinafter to be referred to as ' the Act'), which came into force on and from April 1,1962, the firm was requir...
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