ASHOKA MOTOR FINANCE CO Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) BY this petition under Article 226 of the Constitution of India, the petitioner, a partnership firm, registered under the Income-tax Act, 1961 (hereinafter referred to as "the Act"), challenges a notice dated February 3, 1982, a copy of which is annexure "15" to the writ petition, issued by the Assessing Officer, namely, the Income-tax Officer, Budaum, under Section 185 of the Act requiring the petitioner to show cause why its registration for the assessment years 1974-75 to 1979-80 be not cancelled.

(2.) WE have heard Sri Vikram Gulati, learned counsel for the petitioner, and Sri Ashok Kumar, learned standing counsel for the respondent.

(3.) A supplementary affidavit was filed by the petitioner annexing therewith a copy of the Tribunal's order for the assessment years 1973-74 and 1974-75 to show that the additions that were made to the income of Virendra Pal Gupta on account of the investment by Arvind Kumar Gupta in the petitioner firm have been deleted by the Tribunal holding that Harsh Nandan Gupta from whom Arvind Kumar Gupta claimed to have received the amounts as gifts had the source of gifting the money to him.