1953 (4) TMI 34

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..... xcess profits tax proceedings-The Tribunal has made one combined reference under Section 66(1) of the Indian Income-tax Act and Section 66(1) of the Indian Income-tax Act read with Section 21 of the Excess Profits Tax Act. The question arising in both was identical and has been framed as follows:- Whether, in the circumstances of the case, and on the facts stated, the order of the Tribunal da .....

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..... that this was not income of the assessee and made the assessment on the balance of the income returned after deducting this amount. The reason given by him for excluding this amount from the return was that during the course of assessment of the Kanpur Dyeing and Cloth Printing Co. Ltd. this item had been claimed as an expenditure but it was disallowed by the Income-tax Officer. The assessment bec .....

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..... he had received was the order of the Tribunal dated 21st February, 1945, that it was an expenditure of the Kanpur Dyeing and Cloth Printing Co. Ltd., and consequently must be the income of the assessee. It is not denied that all the facts were known to the Income-tax Officer. If the Income-tax Officer had made a mistake in deducting the sum of ₹ 2,06,695 from the assessable income of the ass .....

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