1980 (8) TMI 61

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....completed by the ITO on November 28, 1972, at a total income of Rs. 2,00,000. On appeal, the AAC reduced the said income to Rs. 1,40,000. The assessee's contention before the Tribunal was that the ITO completed the assessment in an arbitrary manner without any data whatsoever. The Tribunal found from the assessment order that a notice under s. 212(3A) of the Act had been served on the assessee, asking him to pay advance tax at an income of Rs. 75,000. The Tribunal accordingly reduced the best judgment assessment from Rs. 1,40,000 to Rs. 75,000. The assessee approached the Tribunal with the request that the following questions, which according to it, are questions of law, be referred to this court for opinion : " (i) Whether there was ....

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....certain materials, inferences have been drawn by the Tribunal, that will essentially be a finding of fact. The learned counsel for the, assessee could not point out anything to show that there was absolutely no material on record to determine the income of the assessee-firm at Rs. 75,000. The finding, the subject-matter of this question, is essentially a finding of fact. As to question No. 2, the learned counsel contended that since the assessee was not assessed to income-tax previous to the date when notice under s. 212(3A) of the Act was given, therefore, the notice was invalid and, thus, the notice could not be made the basis for determining the estimated income at Rs. 75,000. We are unable to agree with this contention. It cannot be ....