SNATARAJAN Vs. COMMISSIONER OF INCOME TAX MYSORE

JUDGEMENT

(1.) By these applications under section 66(1), the assessee requires the Tribunal to draw up a statement and to refer certain questions of law which are said to arise out of the said order. In our opinion, a question of law arises out of the aforesaid Tribunal's order, we draw up a statement of the case, agreed to by both the parties, and refer it to the High Court. As the facts are common a consolidated statement of the case is drawn.

(2.) The assessee started a film distribution business under the name and style of M/s. Zenith Movies on October 27, 1951. Books of account in respect of the above business were closed on 31st October of every year.

(3.) In the belief that the assessee would have earned a taxable income in respect of the assessment years 1953-54, 11954-55 and 1955-56, proceedings were initiated by the Income-tax Officer under section 34 in respect of these years by issue of notice dated May 30, 1957, and served on June 3, 1957. These notices were accompanied by forms of return.