1964 (1) TMI 1

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....fficer, Alleppey, against the decision in Veeriah Reddiar v. Income-tax Officer. That decision quashed exhibit P-1 dated 27th March, 1961, a notice issued to the respondent before us under section 34 of the Indian Income-tax Act, 1922, in respect of the assessment year 1952-53. The notice was issued after four years and before eight years from the end of that assessment year, and it is common g....

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....he assessee to make a return of his income under section 22. The reason for the notice, as stated in the opening paragraph of exhibit P-1, reads as follows : " Whereas I have reason to believe that your income assessable to income-tax for the assessment year 1952-53 has ; (a) escaped assessment, (b) been under-assessed, I therefore propose to reassess the said income that has ; (a) ....

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.... Income-tax Officer had reason to believe that any income had escaped assessment or had been under-assessed by reason of any omission or failure on the part of the assessee to disclose fully and truly all material facts necessary for such assessment. The judgment under appeal said : " So far as the present case before me is concerned, the two conditions that will have to be satisfied according ....

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....ncome-tax Officer. In that case Das Gupta J. dealt with the requisites of section 34 as follows : " To confer jurisdiction under this section to issue notice in respect of assessments beyond the period of four years, but within a period of eight years, from the end of the relevant year, two conditions have, therefore, to be satisfied. The first is that the Income-tax Officer must have reason to....