1982 (4) TMI 176

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....business carried on at 107, Burma Bazar in the hands of the assessee rejecting his claim that the said business belongs to his son Michel. The assessment came to be made following filing of voluntary return by the assessee on 1st Jan., 1975 by issue of notice under s. 148 and treating the return already filed as in response to the notice at the request of the assessee. Assessment under similar circumstances was also made for the year 1970-71. In return filed by the assessee for both the years, the assessee claimed income from business done at 382, Burma Bazar and 227, Linghi Chetty Street and returned income at Rs. 5,200 for asst. yr. 1970-71 and Rs. 6,000 for the asst. yr. 1971-72. The ITO on the basis of a raid by the Customs Authorities ....

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....from any independent enquiry conducted by the ITO himself. It also appears that separate assessments were also made on the son of the assessee, Michel, who is claimed to be the owner of the business carried on at 107, Burma Bazar, but the AAC has rejected the evidence of this fact on the ground that the filing of the return long after the statement given to the Customs Authorities cannot and does not affect the veracity of the statements given to them. It is also seen that the income has been assessed on the basis of estimate in the absence of any accounts, which in the nature of business carried on were said not be available and it is also seen that the extent of the income assessed is not large. All the same, the ld. Counsel for the asses....