COMMISSIONER OF INCOME-TAX, BOMBAY CITY vs NARSEE NAGSEE & CO. — 1991 PTD 415

Citation: 1991 PTD 415

Court: Supreme Court of India

Year: 1960

Decision Date: 1960-05-06

Parties: COMMISSIONER OF INCOME-TAX, BOMBAY CITY vs NARSEE NAGSEE & CO.

Headnotes

Case cited as 1991 PTD 415

Judgment Text

Court Name: Supreme Court of India Judge(s): M. Hidayatullah, Kapur, S. K. Dass Title: COMMISSIONER OF INCOME-TAX, BOMBAY CITY vs NARSEE NAGSEE & CO. Case No.: Civil Appeal No.319 of 1958 Date of Judgment:1960-05-06 Reported As: 1991 PTD 415 Result: Appeal dismissed JUDGMENT JUDGMENT KAPUR, J.---This is an appeal against the judgment and order of the High Court of Bombay passed in Income-tax Reference No. 31 of 1956. The appellant is the Commissioner of Income-tax and the respondent is a firm carrying on business in Bombay and the question for decision arises under the Business Profits Tax Act (XXI of 1947) hereinafter referred to as the Act. The assessm ent relates to the year of assessment 1949-50 and the chargeable accounting period was from November 13, 1947, to October 31. 1948. On January 12, 1953, the Income-tax' Officer issued a notice on the respondent under section 11(l) of the Act in respect of the abovementioned chargeable accounting period which was served on the respondent on January 21, 1953. The respondent filed a return under protest. The assessment was completed by the Income-tax Officer on November 30, 1953. Against this order the respondent took an appeal to the Appellate Assistant Commissioner on the ground that the respondent was not liable to Business Profits Tax because it was beyond the period of four years limitation under section 14 of the Act. This plea was upheld by the Appellate Assistant Commissioner. The Income-tax Officer then appealed to…

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