9911796707
TMI Blog1934 (3) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... r Sub-section (3) of Section 66 of the Indian Income Tax Act. The parties in this case have not followed the correct procedure under Sub-section (2) of Section 66. That section empowers the assessee to require the Commissioner to refer to the High Court any question of law arising out of the order of the Assistant Commissioner, and the Commissioner is then directed to draw up a statement of the ca ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te the question which it is desired we should direct the Commissioner to raise. The petition is framed on the basis of a petition of appeal alleging that the Commissioner has committed various errors of law. It is, I think, clearly open to this Court on an application under Sub-section (3) of Section 66 to direct the Commissioner to refer some question other than that which the parties have formul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mputation shall be made upon such basis and in such manner as the Income Tax Officer may determine. It is, in our opinion, clear from the order of the Income Tax Officer, and the order of the Assistant Commissioner on appeal, that both those Officers were of opinion that no regular method of accounting had been employed and the method which was employed was such that the income, profits and gains ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... subject to a deduction in respect of part of that capital which the assessee alleged to have been lost, and on that balance of capital the Income Tax Officer charged the assessee what he considered a fair rate of interest. That seems a proper method and we do not see that any question of law arises which should be referred to the Court. 2. We discharge the rule with costs to be taxed on the or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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