V. PL. FIRM vs COMMISSIONER OF INCOME-TAX, MADRAS — 1971 PTD 222

Citation: 1971 PTD 222

Court: Madras High Court

Year: 1968

Decision Date: 1968-01-31

Parties: V. PL. FIRM vs COMMISSIONER OF INCOME-TAX, MADRAS

Headnotes

Case cited as 1971 PTD 222

Judgment Text

Court Name: Madras High Court Judge(s): K. Veeraswa mi, Ramaprasada Rao Title: V. PL. FIRM vs COMMISSIONER OF INCOME-TAX, MADRAS Case No.: Writ Petition No. 75 of 1964 Date of Judgment:1968-01-31 Reported As: 1971 PTD 222 Result: Petition allowed JUDGMENT JUDGMENT VEERASWAMI, J.-The petitioner is a registered firm which seeks a direction to the respondent to exercise his powers under section 66(7) of Income-tax Act, 1922, and allow interest on a sum of Rs. 51,137.03 due as refund. The firm was, for the assessment year 1951-52, assessed to income-tax under sec--petition 23(3), its prayer for refund as a registered firm having been rejected. On the question of status, the petitioner eventually succeeded on a reference to this Court under section 66(2). Pursuant to the opinion expressed by this Court in the reference, the Tribunal, by its order dated October 19, 1961, directed the Income-tax Officer to grant registration to the firm under sec-- petition 26-A for the year 1951-52. The Income-tax Officer carried out the direction by an order of his dated February 2, 1962. Thereafter, the same officer worked out the tax effect on the individual assessm ent of each of the partners and a sum of Rs. 51,137.03 was adjusted by him against the tax due from them. As a result of the disposal by the Tribunal of the firm's appeal, a refund of Rs. 27,739.39 had been made earlier on July 16, 1960. After deducting these two amounts from Rs. 90,168-69 which was the amount paid by the firm, a…

Read the full judgment on Al Wakeelo — Pakistan's AI-powered legal research platform.