9911796707
TMI Blog1942 (2) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... operty, (2) business, and (3) money-lending. On the 11th February 1936 the Income-tax Officer made an assessment upon a total income of ₹ 31,760. In respect to income from business he calculated profits at a flat rate of 16 per cent, on sales under the proviso to Section 13 of the Act. The assessee appealed against the assessment order, but only in respect of the income from property which had been assessed by the Income-tax Officer. Thereupon the Assistant Commissioner issued notice to the assessee requiring him to show cause why his assessment under the head of business should not be enhanced under Section 31(3) of the Act. The assessee appeared and showed cause but the Assistant Commissioner dismissed his appeal in respect to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... v. Commissioner of Income-tax [1941] 9 ITR 81, this Board held that where the Income-tax Officer has exercised his judgment and has not acted arbitrarily in arriving at the conclusion that the income, profits and gains were not properly deducible from the assessee's regularly kept books of account, then having regard to the language of the provision, his discretion in this matter cannot be interfered with; but we do not think the language of the proviso affords support for the contention that his basis or his method of computation is not liable to interference by the highest authorities of the Department. There are. no reported decisions exactly in point, but we may refer to the case of Commissioner of Income-tax, Bihar & Orissa v. Kame ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he obvious ways of enchancing an assessment which has been made under the proviso to Section 13 is to raise the percentage rate where that is the method which the Income-tax Officer has adopted. Section 31 (3) of the Act gives wide powers to the Assistant Commissioner in respect to any order of assessment, and Section 32 (3) of the Act gives even wider powers to the Commissioner, for it provides that "in disposing of the appeal the Commissioner may, after giving the appellant an opportunity of being heard, pass such orders thereon as he thinks fit". We do not think that there is anything in the Act to restrict to an assessment made under the proviso to Section 13, the powers which the higher authorities of the Department have unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
