1971 (9) TMI 47 - HC - Income Tax

Whether Tribunal was right in holding that the assessee had no obligation to file an estimate of its income under section 18A(3) of the Act of 1922 - Tribunal is right in the view taken by it that the assessee (who has been provisionally assessed to tax )had no obligation to file an estimate of its income under section 18A(3).

Summary

The High Court of Allahabad held that the assessee, a private limited company, was not obligated to file an income estimate under section 18A(3) of the Income-tax Act, 1922, for the assessment year 1959-60. The court ruled in favor of the assessee, stating that since a provisional assessment had already been made, the obligation under section 18A(3) did not apply. The Tribunal affirmed this decision, and the question was answered in the affirmative. The assessee was awarded costs of Rs. 200.