POLISETTI SUBBARAIDU & Co. vs COMMISSIONER OF INCOME-TAX, A. P. — 1971 PTD 144

Citation: 1971 PTD 144

Court: Andhra Paradesh High Court

Year: 1967

Decision Date: 1967-06-28

Parties: POLISETTI SUBBARAIDU & Co. vs COMMISSIONER OF INCOME-TAX, A. P.

Headnotes

Case cited as 1971 PTD 144

Judgment Text

Court Name: Andhra Paradesh High Court Judge(s): P. Jaganmohan Reddy, Sambasiva Rao Title: POLISETTI SUBBARAIDU & Co. vs COMMISSIONER OF INCOME-TAX, A. P. Case No.: Case Referred No. 32 of 1964 Date of Judgment:1967-06-28 Reported As: 1971 PTD 144 Result: Questions answered in the negative JUDGMENT JUDGMENT SAMBASIVA RAO, J.--The Income-tax Appellate Tribunal of Hyderabad referred the following question for our decision: "Whether, on the facts and in the circumstances of this case, the information collected by the Department was disclosed to the assessee and he was afforded an opportunity as directed by this Court in R. C. No. 17/56 (Polisetti Subbaraidu & Co. v. Commissioner of Income-tax) (1958) 34 I T R 492 and whether there is any material which could form the basis of an order under section 13 of the Income-tax Act?" This case has had a long and tortuous history, having come to this Court earlier on more than one occasion. The assessee is a firm engaged in the business of dyeing, printing and selling cloth. The assessm ent year for the purposes of income-tax assessment is 1947-48 for which the "previous year" is the Telugu year Vyaya ended March 22, 1947. The chargeable accounting period for the business profits tax assessm ent is April 1, 1946 to March 31, 1947. The assessee's lines of business are diverse, though the most important of them was manufacture and sale of dyed and printed cloth. It held wholesale quota for Mettur mulls. Supplying of cloth for commission…

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