PUSHP TRADING CO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) IN this petition, in respect of the asst. year 1962 -63, the petitioner has sought to refer the following questions to this Court :

(2.) THE questions relate to the cash credits of the sum of Rs. 25,000. The return was filed on 5th Oct., 1962, and the assessment order was made on 24th Feb., 1967. The assessment was, thereafter, set aside and a fresh assessment order was passed on 27th Feb., 1982. Learned counsel for the petitioner states that, after the lapse of 14 years, it was not possible to have produced the creditors in question for their cross -examination. The petitioner had relied upon the confirmatory letters and, therefore, this question was being agitated by the petitioner since the filing of the return. It is not as if the petitioner was unaware of the evidence which he would be required to produce to substantiate his claim with regard to the genuineness of the cash credits.

(3.) THE original assessment order was set aside at the instance of the petitioner himself, This order was set aside on the ground that the petitioner wanted further opportunity to substantiate his claim because it was alleged by the petitioner that full opportunity had not been granted to him by the AO.