Rajasthan Court June 1976 Judgments

Bombay Electric and General Agencies and anr. Vs. Income Tax Officer a ...

Court: Rajasthan

Reported in: 1976WLN(UC)169

M.L. Jain, J.1. The facts of this writ petition appear to be that the petitioners Bombay Decide and General Agencies, Alwar are a partnership firm whose partners are Narpendra Singh Jain at present an Excise officer in Delhi and one Su an Chand Jain. The concern is managed by Satyendra Singh Jain who is an uncle of Narpendra Singh Jain. It is alleged that Shanti Prasad Jain, who is the husband of the sister of Satyendra Singh and aunt of Narpendra Singh Jain and is the managing director of the Aligarh Electric Supply Co.; Aligarh, sent Rs. 4,00,000/- in the last week of April, 1969, to the petitioners. The assessment of the income of the petitioners for the year 1973 74 was to be completed by the I.T.O. Alwar by the 31st March, 1976, as required by Section 153 of the Income tax Act, 1961. It was claimed that these Rs. 4,00,000/- were kept in the home chest account and were received as a guarantee mone from the Aligarh firm for supply of stores material to the said Aligath from in expec...