TaxTMI 
TaxTMI 
1989 (9) TMI 407
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....d. in respect of the income of Tecalemit (India) Ltd. earned by it during the period 1-8-1963 to 31-3-1964?The assessment year involved in this reference is the assessment year 1964-65 for which the corresponding period of account is year ending 31-3-1964. 2. The facts of the case as stated by the Tribunal are as under: The assessee is Tecalemit (India) Ltd. which was a non-resident company. It had been carrying on business in India and was following as its accounting year, the year ending on 31st July. By an agreement dated 9-10-1964, the business of the assessee in India was taken over by Tecalemit (Hind) Ltd. with effect from 1-4-1964. The assessee filed its return of income for the assessment year 1964-65 corresponding to the previou....
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.... revised return showed a total income of Rs. 1,70,360. The return was verified by one Shri K. Mukherjee who described himself as the Secretary of the assessee-company and was signed by him as "For Tecalemit (India) Ltd., Tecalemit (Hind) Ltd. Sd/- 1-K. Mukherjee, Secretary. 3. The ITO made an assessment under section 144 of the Act on the basis of the revised return and this was cancelled under section 146 of the Act and a fresh assessment was made under section 143(3) computing the total income of the assessee for the period 1-8-1963 to 31-3-1964 on a total income of Rs. 3,07,439. Both, in the original assessment and in the subsequent fresh assessment the assessee was described as Tecalemit (India) Ltd. [through Successor-Tecalemit (....