P. S. S. BOMMANNA CHETTIAR vs COMMISSIONER OF INCOME-TAX, MADRAS — 1971 PTD 620

Citation: 1971 PTD 620

Court: Madras High Court

Year: 1965

Decision Date: 1965-01-05

Parties: P. S. S. BOMMANNA CHETTIAR vs COMMISSIONER OF INCOME-TAX, MADRAS

Headnotes

Case cited as 1971 PTD 620

Judgment Text

Court Name: Madras High Court Judge(s): K. Veeraswa mi, Ramaprasada Rao Title: P. S. S. BOMMANNA CHETTIAR vs COMMISSIONER OF INCOME-TAX, MADRAS Case No.: Cases Nos. 59 of 1962 and 206 of 1965 (References Nos. 38 of 1962 Date of Judgment:1965-01-05 Reported As: 1971 PTD 620 Result: question, allowed JUDGMENT JUDGMENT RAMAPRASAD RAO, J.-Tax Case No. 59 of 1962 is in relation to the assessment made by the revenue under section 34 of the Indian Income-tax Act, 1922, on the assessee and relates to the assessm ent years 1943-44 to 1947-48. Tax Case No. 206 of 1965 also relates to the same period, but concerns itself with the legality and propriety of the penalty levied on the assessee under section 28(1)(c) of the Act. The Tribunal, in each of the cases as above, submitted independent questions for being answered by this Court. The relevant facts are as follows :- The assessee was assessed as a Hindu undivided family. The assessee was mainly dealing in yarn and was manufacturing silk sarees as well. Assessments for the years under review were made under section 23(3) of the Act. On written information furnished by the assessee's pleader, one Mr. Ramamurti Iyer, that silver bars of the assessee were kept in his house for some time and that such property belonged to the assessee, action was taken by the Income-tax Officer under section 34 of the Act on the foot that he had information relating to sale of jewels fn some years, acquisition of properties fn some others and of bank…

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