VELJI DEORAJ & Co. vs COMMISSIONER OF INCOME-TAX, BOMBAY CITY II — 1971 PTD 14

Citation: 1971 PTD 14

Court: Bombay High Court

Year: 1967

Decision Date: 1967-09-13

Parties: VELJI DEORAJ & Co. vs COMMISSIONER OF INCOME-TAX, BOMBAY CITY II

Headnotes

Case cited as 1971 PTD 14

Judgment Text

Court Name: Bombay High Court Judge(s): V. S. Desai, S. P. Kotwal Title: VELJI DEORAJ & Co. vs COMMISSIONER OF INCOME-TAX, BOMBAY CITY II Case No.: Income-tax Reference No. 71 of 1962 Date of Judgment:1967-09-13 Reported As: 1971 PTD 14 Result: orders made JUDGMENT JUDGMENT V. S. DESAI, J.-The following two questions, which arise out of the Tribunal's order relating to the reassessm ent of the assessee under section 34 of the Indian Income-tax Act in respect of the assessm ent year 1950-51, have been referred to this Court by the Tribunal on the requisition under section 66(2) of the Indian Income-tax Act: "(1) Whether, on the facts and under the circumstances of the case, the discretion of the Tribunal was judicially exercised in refusing to admit the important evidence in the form of the bank certificate produced by the assessee in respect of this case, that the moneys had been received by the assessee from Aden in approved manner? And (2) Whether there is any evidence on the record to justify the finding of the Tribunal to the effect that the sum of Rs. 95,483 (rupees ninety-five thousand four hundred and eighty---three) forming part of the moneys credited in the account of the non-resident, Maneklal Bhanji of Aden, in S. Y. 2005 in the assessee's books of account is the assessee's own money representing his income from an undisclosed source?" The assessee is a partnership firm consisting of a father and son as partners and is carrying on business as exporters and…

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