9911796707
TMI Blog1975 (12) TMI 17X X X X Extracts X X X X X X X X Extracts X X X X ..... YASACHI MUKHARJI J.---This is an application challenging the notice dated 27th March, 1973, under section 148 of the Income-tax Act, 1961. The impugned notice relates to the assessment year 1964-65. Two contentions were urged in support of this application. It was contended that at the time of the issuance of the notice the firm was dissolved and the income-tax department had knowledge of that fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 94 (Pat), Commissioner of Income- tax v. Devidayal and Sons [1968] 68 ITR 425 (Bom), V. D. M. R. M. Ramanathan Chettiar v. Commissioner of Income-tax [1927] 2 ITC 474 (Rang) [FB], Rama Guha v. Income-tax Officer, AIR 1967 Cal 348 and M. X. De Nornha Sons v. Commissioner of Income-tax [1950] 18 ITR 928 (All). On that ground I am unable to accept the contention that the notice was not properly ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts his income from some undisclosed source which has escaped assessment due to failure on the part of the assessee to disclose truly and fully all material facts at the time of original assessment and this involves an extra tax of Rs. 19,440 plus extra taxes on disclosed income. Hence, this proposal." It further appears that the said recorded reasons have been explained in paragraph 8 of the af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the nature of the materials upon which the revenue has relied on in this case, in my opinion, it cannot be said that there were no materials from which, prima facie, such belief can be formed that there was failure or omission on the part of the assessee to disclose truly all basic and primary facts as a result of which the income of the assessee escaped assessment. In the aforesaid view of the ma ..... X X X X Extracts X X X X X X X X Extracts X X X X
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