VISHNU KUMAR GUPTA Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE assessee, Sri Vishnu Kumar Gupta, karta of an HUF, filed his return for the assessment year 1970-71, the previous year ended March 31, 1970, on 22nd July, 1971. He declared his income at Rs. 33,838, the details being as under : <FRM>JUDGEMENT_69_ITR143_1983Html1.htm</FRM>

(2.) DURING the course of assessment proceedings, the ITO issued a notice under Section 143(2) of the I.T. Act, 1961 (hereafter "the Act"). The-assessee committed default and, hence, the ITO made an ex parte assessment under Section 144 of the Act on November 27, 1972. The share income from M/s. Radhey Lal Devicharan was taken at Rs. 30,932. Apart from that, income from money-lending business was taken at Rs. 7,700. Under the head " Other sources ", the following interest income was taken :

(3.) IT may be noted that pending the disposal of the reference application, the assessee moved an application under Section 254(2) of the Act before 'the Tribunal. IT was stated in that application that the Tribunal had omitted to consider certain facts which had been brought to its notice at the time of hearing of the appeal and thus a mistake apparent from the record had crept in its order. The Tribunal rejected this application by its order dated October 29, 1977. In its opinion no mistake as alleged existed in its order and as such the application was not maintainable.