1967 (3) TMI 43

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....sessment for the assessment year 1957-58, the question referred is : "When the assessee has filed a return of loss and when the Income-tax Officer has concluded the assessment as N. A. (not assessable) whether the assessment must be presumed to have been completed under section 23(1) of the Act, and whether the loss returned must be deemed to have been determined and accepted ?" The return of lo....

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....cted the argument and also taken the view that the decision of the Supreme Court is not applicable to the facts of this case. The material facts in the case decided by the Supreme Court were that the assessee had filed "Nil" return which the officer had disposed of with the order reading "No proceeding." The argument advanced by the assessee when the department wanted to reopen the same under sec....

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....ct and completed without calling upon the assessee to produce evidence. But, in the present case, the case was not disposed of without issuing any notice to the assessee. As already stated notices were issued and it is after hearing the assessee on the question of status, etc., that the order mentioned above came to be passed. Hence, it cannot be said that the assessment must be deemed to have bee....

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.... say that the view passed on behalf of the department is not wholly impossible, there is better support in reason for the view pressed on behalf of the assessee. It is therefore to be held that the order on the return for the assessment year 1956-57, had the effect of computing the loss of the assessee for the said year at the amount returned, namely, Rs. 12,862 and that therefore the assessee wa....