YELAVARTI GOPALAKRISHNAIAH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) We had asked the Income-tax Appellate Tribunal under section 66 (2) of the Indian Income-tax Act, 1922, to state a case on the following question, viz. :

(2.) The parties are agreed that this question as framed does not arise on the facts and in the circumstances as set out in the statement of the case. We have, therefore, in order to bring out the exact scope of the matter upon which our opinion is sought, reframed the following question as arising out of the statement of the case :

(3.) The assessee is a firm consisting of four partners carrying on business in turmeric, ground-nuts, manures, etc., For the assessment year 1947-48, for which the accounting year ended on March 31, 1947, the Income-tax Officer did not accept the return of the income of Rs. 8,335 and computed the total income as Rs. 1,25,000. On appeal the Appellate Assistant commissioner reduced it to Rs. 1,10,000 while the Appellate Tribunal finally determined the income as Rs. 60,000.