1950 (5) TMI 37

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....ondent. JUDGMENT Sinha, J. This is a reference under Section 66(1) of the Income-tax Act. The question referred is in the following terms:- "Whether in the facts and circumstances of this case Section 14(2) of the Excess Profits Tax Act is a bar to recovery of the excess profits tax for the chargeable accounting period ended the 30th of April, 1945, from the purchaser, Ramnath Bajoria.....

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.... and forty-six and all Bengal sales tax from the first day of August one thousand nine hundred and forty-six together with all existing debts and liabilities of the vendors in respect of the said business will be on the account of the purchaser as appearing from the balance sheet of the business upto the thirtieth day of April one thousand nine hundred and forty-six. The purchaser hereby undertake....

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.... could the liability for the tax be fixed on Bajoria. The Tribunal, therefore, held that Section 14(2) of the Excess Profits Tax Act was a bar against the realisation of the excess profits tax from Bajoria. Application was then made to the Appellate Tribunal to refer a question to this Court and the Tribunal has referred the question which have already mentioned. It is not disputed that unde....