MOTI LAL CHHADAMI LAL JAIN MOTI LAL CHHADAMI LAL JAIN Vs. COMMISSIONER OF INCOME TAX DELHI:COMMISSIONER OF INCOME TAX AGRA

JUDGEMENT

(1.) These four matters arise out of income tax assessments of the same assessee and involve the same questions. We grant leave in the special leave petition after condoning the delay of 141 days in the circumstances set out in the application for condonation of delay and proceed to dispose of all the four appeals by this common judgment.

(2.) The assessee-appellant in all these cases is a Hindu Undivided Family (HUF) known as M/s Moti Lal Chhadami Lal Jain carrying onbusiness at Ferozabad. The HUF consisted of the karta, Chhadami Lal Jain, and his son Bimal Kumar Jain. civil no. , 1426 of 1975 relates to the assessment year 1962-63, civil nos. 1427 and 1428 relate to assessment years 1968-69 and 1969-70 and the other remaining Civilrelates to the assessment year 1973-74.

(3.) The facts relevant for the assessment year 1962-63 may now be set out: