Validity of Income Tax notice upheld despite late return filing -64

The High Court of Calcutta upheld the validity of a notice issued under section 148 of the Income-tax Act, despite the assessee's ability to file a return later. The assessment was considered to be based on the return filed in response to the notice. The court dismissed the application without awarding costs, vacated an interim order, and directed the security deposit to be used towards the dues for the assessment year 1963-64.

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The High Court of Calcutta ruled that the notice issued under section 148 of the Income-tax Act was valid, even though the assessee had the privilege to file the return until March 31, 1968. The assessment was deemed to be made pursuant to the return filed in response to the notice. The application was dismissed, and no costs were awarded. An interim order was vacated, and the security deposit was to be appropriated against the dues for the assessment year 1963-64.

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