COMMISSIONER OF INCOME-TAX, BOMBAY vs BALVANTRAI S. JAIN — 1971 PTD 567

Citation: 1971 PTD 567

Court: Bombay High Court

Year: 1971

Decision Date: 1971-11-22

Parties: COMMISSIONER OF INCOME-TAX, BOMBAY vs BALVANTRAI S. JAIN

Headnotes

Case cited as 1971 PTD 567

Judgment Text

Court Name: Bombay High Court Judge(s): V. S. Desai, S. P. Kotwal Title: COMMISSIONER OF INCOME-TAX, BOMBAY vs BALVANTRAI S. JAIN Case No.: Income-tax Reference No. 8 of 1963 Date of Judgment:1971-11-22 Reported As: 1971 PTD 567 Result: reference made JUDGMENT JUDGMENT KOTVAL, C. J.-Though the question referred to us has been couched in somewhat wide language as follows: "Whether, on the facts and in the circumstances of the case, the proceedings initiated under section 34 of the Indian Income--tax Act for the assessment year 1944-45 were valid?" The short point that we have to decide in this reference is whether, on the facts and in the circumstances of the case, there was an omission or failure on the part of the assessee to disclose fully and truly all material facts necessary for his assessment for the year in question. The assessm ent year under reference is the year 1944-45 and the previous accounting year was the year ending the Samvat year 1999 (from 9th November 1942 to 9th November 1943). Balvantrai S. Jain was doing business as a contractor and was being assessed as an individual. In the year 1941 he joined a partnership firm known as Tejoo Kaya & Co., Bhavangar Works. When the assessee made his return for the assessment year 1942-43 the assessee filed full details regarding the said partner--ship in Tejoo Kaya & Co. In the form of return for that year Part III was a part requiring the disclosure of information in cases where the assessee was a partner in a firm…

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