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1954 (10) TMI 6

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....axation on Income (Investigation Commission) Act, 1947, referred his case to the Investigation Commission for investigation and report, in respect of the profits made by him during the period commencing with 1st of January, 1939, and ending on 31st of December, 1947. The Commission, after investigation, reported on the 28th of February, 1951, that the income of the petitioner concealed and withheld from taxation was in the sum of Rs. 27,25,363 and the tax payable by him amounted to Rs. 18,44,949. During the pendency of the investigation the petitioner applied for settlement under the provisions of Section 8-A of Act XXX of 1947. This application was forwarded along with the report by the Commission to the Central Government. In the settle....

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....re proceedings under the Act which had resulted in the imposition upon him of a liability of Rs. 18,44,949 and in the payment already made of an aggregate amount of Rs. 13,99,175 were wholly illegal, ultra vires, void and unconstitutional and that the Income-tax authorities were not legally entitled to recover the amount of Rs. 4,50,000 from him. In the grounds of the petition it was stated that Sections 5, 6, 7 and 8 of Act XXX of 1947 were invalid and ultra vires in so far as they contravene the provisions of Articles 14, 19(1)(f) and 31 of the Constitution and that under the Act there was no reasonable or equitable basis for classification, and that the Act gave to the executive unrestrained and absolute right to pick and choose and to d....