COMMISIONER OF INCOME TAX Vs. SIDH GOPAL GAJANAND

JUDGEMENT

(1.) FIRM Sidh Gopal Gajanand was, on 21st Jan., 1954, assessed to income-tax for the asst. yr.. 1949- 50 in the status of a registered firm. On 16th March, 1966, the Income Tax Officer issued a notice under S. 148 of the IT Act, 1961, seeking to reopen the assessment on the ground that--

(2.) ULTIMATELY the matter went up to the Tribunal. It, inter alia, held that the Department has failed to prove by cogent evidence that this AOPs had earned any on-money. Therefore, there was no basis to assess it on escapement of income of nearly Rs. 60 lacs, as has been done by the Income Tax Officer.

(3.) IN view of this finding, the variety of questions, some of which undoubtedly are of law, become merely of academic value. No useful purpose will be served by requiring the Tribunal to refer them for our opinion, because ultimately the result will be the same.