COMMISSIONER OF INCOME TAX Vs. SHAMSHUDDIN MANZOOR HAQUE

JUDGEMENT

(1.) In this application made under Section 265(2) of the Income-tax Act, 1961, the Commissioner of Income-tax prays that the Income-tax Appellate Tribunal be directed to draw up a statement of the case and refer to this court as many as three questions mentioned in the application.

(2.) The Income-tax Officer noticed that the capital accounts of the partners in the books of the assessee-firm were credited with certain amounts. The explanation of the assessee was that the amount so credited in the capital account of the two partners had been received by them as gift from the Bombay parties.

(3.) Later, the Commissioner of Income-tax, exercising jurisdiction under Section 263, set aside the order for the assessment year 1981-82 of the Income-tax Officer on the ground that the said order was erroneous and prejudicial to the interests of the Revenue, inasmuch as no enquiry into the genuineness of the gift was made by the Income-tax Officer and he, therefore, directed the Income-tax Officer to make an assessment afresh after making proper enquiry.