KV. AL. M. RAMANATHAN CHETTIAR vs COMMISSIONER OF INCOME-TAX, — 1971 PTD 1066

Citation: 1971 PTD 1066

Court: Madras High Court

Year: 1970

Decision Date: 1970-12-31

Parties: KV. AL. M. RAMANATHAN CHETTIAR vs COMMISSIONER OF INCOME-TAX, JUDGMENT

Headnotes

Case cited as 1971 PTD 1066

Judgment Text

Court Name: Madras High Court Judge(s): K. Veeraswa mi, Ramaprasada Rao Title:KV. AL. M. RAMANATHAN CHETTIAR vs COMMISSIONER OF INCOME-TAX, JUDGMENT Reported As: 1971 PTD 1066 Result: N/A Judgment JUDGMENT VEFRASWAMI, J.---This common reference under section 66(l) of the Indian Income-tax Act relates to the assessm ent years 1953--54 to 1955-56. The assessee, one K.V. AL. M. Ramanathan Chettiar, who is now dead and succeeded by his legal representa--tives, was doing money- lending business in Malaya as well as in this country. It appears, he also owned rubber gardens in that foreign territory. The point in the reference turns on the proper application of section 49-D of the Income-tax Act to the facts In each of the years. Three questions have been formulated for the first year and two common questions for the next two years. The first question as to the jurisdiction of the Commissioner to revise an order of refund made by the Income-tax Officer on his view of section 49-D is not pressed by the assessee and it is, therefore, answered against him. The two other questions in that year are : "(2) Whether, on the facts and in the circumstances of the case, the Tribunal is right in its view that the order of refund under section 48 read with section 49-D is independent and distinct from the assessm ent order? (3) Whether, on the facts and in the circumstances of the case, the Tribunal is right in confirming the computation of relief as modified by the Commissioner?" The two…

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