9911796707
TMI Blog1986 (6) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... M/s Gopi Krishna Co. (Head Office). 4. That the ld. AAC has erred in law in holding that 703.500 gms. gold ornaments seized by the Gold Contral Authorities on 25th April, 1970 were duly accounted for in the books of account. 5. That the ld. AAC failed to appreciate that on this very ground the Gold Control authorities have imposed a fine of Rs. 8,000 and personal penalty of Rs. 6,000 in respect of this very transaction, and the order of Gold control authorities have become final. 6. That the order of the ld. AAC is erroneous in law and on facts of the case and it deserves to be set aside and the order of ITO deserves to be restored. 2. The first main contention is that the AAC erred in holding that the proceedings under s. 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the partnership deed (as mentioned above) that the name of Hari Prasad Gopi Krishna was for gold ornament business. It was argued that though the notice more conveniently could have been issued in the name of Hari Prasad Gopi Krishna, and Company but simply because the notice was issued in the name of Hari Prasad Gopi Krishna, the notice was not bad as it was issued in the name of the assessee itself and admittedly Hari Prasad Gopi Krishna was the name of the branch of the assessee. It was argued that there was no invalidity in the notice issued nor any confusion or vagueness as alleged. There was no dispute vis-a-vis the status of the assessee. The case laws relied upon on behalf of the assessee are not relevant as in those cases the na ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3) 144 ITR 745 (All) it was held by the Allahabad High Court that issue of a valid notice within the specified period was a condition precedent for the validity of any re-assessment. It was also held in this case that the notice issued was vague and the notice was not valid. In this case the notice was not clear with regard to the status as to whether the notice was issued to the individual or to the HUF. The High Court, therefore, held that the notice was vague and hence invalid. In the case reported at (1979) 119 ITR 340 (Cal) the facts were that there were two concerns of the same name and at the same address at the relevant time. The ITO had full knowledge of it but inspite of this in the notice issued there was nothing to show whether ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this name. It may be true that the name of the Head Office was Gopi Krishna and Company and the notice more appropriately should have been issued in the name of Gopi Krishna and Company but the mention of the name of Hari Prasad Gopi Krishna did not create any confusion. This name did not refer to any other assessee. There was no confusion with regard to the status nor any controversy as to whether the notice was issued to the individual or to the HUF. In other words, the notice, in our opinion was not vague. The name of the branch of the assessee was as good a name of the assessee as the other name which was the name given to the Head Office. Even in this name of the assessee has been allowed the benefit of registration vide order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee to have produced the same before the ITO If necessary the ITO could have called for the registers from the Central Excise Department and examined them to find out whether the contention of the assessee was correct or not. 8. We have looked into the facts and the rival arguments. In our opinion, the AAC accepted the plea of the assessee without giving any opportunity to the ITO to examine the same vis-a-vis the registers maintained in Form nos. 11 and 12. The order of the AAC on this issue, therefore, cannot be upheld. The orders of the authorities below on this issue are set aside and the issue is restored to the file of the ITO for being decided afresh after examining the registers maintained by the assessee in Form nos. 11 and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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