PUNJAB CLOTH STORE Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Since common questions of law arise in these petitions it would be appropriate to dispose them of by a single judgment.

(2.) Income Tax Case No. 183 of 1975 and Income Tax Reference No. 219 of 1975 pertain to the assessment year 1967-68 ; Income Tax Case No. 184 of 1975 and Income Tax Reference No. 220 of 1975 pertain to the assessment year 1968-69 and Income Tax Case 185 of 1975 and Income Tax Reference No. 221 of 1975 pertain to the assessment year 1969-70. The Income Tax Cases arise out of rejection of form No. 12 filed by the assessee along with its returns for the assessment years 1967-68, 1968-69 and 1969-70 seeking registration of the firm while the Income Tax References arise out of the quantum appears filed by the assessee.

(3.) The assessee deals in the business of cut pieces and terylene cloth on wholesale basis. For the year 1967-68 (accounting period ending on 18th June, 1966) the assessee filed a return of income along with form No. 12 seeeking continuation of registration under section 184(7) of the Income Tax Act, 1961 (herein called 'the 1961 Act') as it had earlier applied for registration in form II along with return filed for the assessment year 1966-67. Since the application of the assassee for registration had been rejected by the Income Tax Officer while passing orders on the return filed by it for the year 1966-67, the Income Tax Officer by his order dated 24th March, 1972, filed the form No. 12 and proceeded to assess the assessee under section 143(2) of the 1961 Act.