9911796707
TMI Blog1978 (7) TMI 14X X X X Extracts X X X X X X X X Extracts X X X X ..... . He was employed as secretary in the H. R. Sugar Factory Private Ltd., Bareilly. After his assessment was made the proceedings for the assessment of H. R. Sugar Factory Private Ltd. were taken up by the ITO. During the course of the assessment, the ITO found that three amounts, i.e., Rs. 20,000, Rs. 20,000 and Rs. 10,000, were deposited on October 9, 1957, August 9, 1958, and August 10, 1958, res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s deposited in the account of the mills represented his income from undisclosed sources, the same were liable to tax. As Hargovind Lal died in November, 1967. Capt. Sant Kumar, the legal representative of the deceased, Hargovind Lal, claimed that the deposits entered in the books of the mills were not that of the deceased, Hargovind Lal. The ITO did not accept the case of Hargovind Lal and made fr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Officer ? " Two contentions were raised by the learned counsel for the assessee. He urged that the ITO who assessed Hargovind Lal on 20th March, 1960, had knowledge about these three deposits which stood in the name of Hargovind Lal in the mill's account and as the ITO did not treat them to be the deposits of Hargovind Lal in those assessment years, it was not open to him to reopen the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a witness in the assessment case of the factory on 19th April, 1962. He stated before the ITO that the deposits which stood in the accounts of the company in his name did not belong to him. His statement was accepted by the ITO. He held that these deposits did not belong to Hargovind Lal and, in fact, represented the mills' income from undisclosed sources in the order dated December 31, 1962. It ..... X X X X Extracts X X X X X X X X Extracts X X X X
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