COMMISSIONER OF INCOME TAX Vs. BHAI MOHAN SINGH

JUDGEMENT

(1.) INCOME -tax Appellate Tribunal, Delhi Bench B (for short the Tribunal), has referred the following question for our opinion :

(2.) "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the ITO assumed jurisdiction under s. 147(b) of the Act merely on a change of opinion - year 1972 -73, was completed on an income of Rs. 95,871. In his return, the assessee had appended the following note :

(3.) "Interest on money held in trust Rs. 87,869.85 to be assessed in hands of Bhai Sunder Dass and his heirs as in the past." the aforesaid amount either in the assessment order or in the proceedings before him. Act), giving the following reasons : debt due to creditor was not legally enforceable as having become barred by limitation and hence, the liability for the payment of the aforesaid debt has become extinguished and at the same time the assessee had no intention of making the payment voluntarily.