S.KUPPUSWAMI MUDALIAR vs COMMISSIONER OF INCOME-TAX, MADRAS , . — 1989 PTD 280

Citation: 1989 PTD 280

Court: Madras High Court

Year: 1962

Decision Date: 1962-12-10

Parties: S.KUPPUSWAMI MUDALIAR vs COMMISSIONER OF INCOME-TAX, MADRAS , .

Headnotes

Case cited as 1989 PTD 280

Judgment Text

Court Name: Madras High Court Judge(s): Srinivasan, Jagadisan Title: S.KUPPUSWAMI MUDALIAR vs COMMISSIONER OF INCOME-TAX, MADRAS , . Case No.: Tax Case No,43 of 1961 Date of Judgment:1962-12-10 Reported As: 1989 PTD 280 Result: Questions answered JUDGMENT JUDGMENT ' JAGADISAN, J.--The questions that stand referred under Section 66 of the Indian Income-tax Act are as follows: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that Rs,40,000 constituted the income of the assessee from undisclosed sources assessable to tax in the assessm ent year 1949-50? ' Whether, on the facts and in the, circumstances, the Tribunal was justified in law in holding that a sum of Rs,12,230 constituted the income of the assessee from undisclosed sources liable to be assessed in the year of assessm ent 1950-51?" ' The assessee is a tanner carrying on business at Ambur. In the year of account ended 31st March, 1947, the previous year of the assessment year 194748, the Income-tax Officer found in the assessee's books of account a shortage of 7, 182 skins not accounted for. When called upon to explain this shortage the assessee submitted that the .Kins might have been lost during his absence from Ambur for about 40 days due to the scare of plague in that area. The Income-tax Officer did not accept the explanation. He also found that there was an inflation of purchase value of skins as entered in the account hooks. So, for the assessment year…

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