RAMDAS JUGANI Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) THE petitioner claims to be carrying on the business of medicines at Hoshangabad in the name of M/s. Anand Medical Stores.

(2.) ON the basis of a survey dated March 7, 1991, conducted under Section 133b of the Income-tax Act, 1961 ("the Act" for short), by the Assistant Director (Investigation), Bhopal, a notice under Section 142 (1) read with Section 148 of the Act was issued to the petitioner on March 18, 1991, by the Income-tax Officer ("the ITO", for short ). As the petitioner did not file the return as required under the said notice, the Income-tax Officer completed the ex parte assessment vide orders dated March 23, 1993, for the assessment years 1989-90 and 1990-91. The Income-tax Officer exercising the jurisdiction under Section 144 of the Act made best judgment assessment accepting the turnover of the petitioner reflected in the said survey report dated March 7, 1991, (annexure R-1), and assessed income of Rs. 33,700 for the year 1989-90 and worked out a total demand of Rs. 16,880 and assessed income of Rs. 40,000 for the year 1990-91 and worked out a demand of Rs. 13,688.

(3.) FEELING aggrieved by the said orders of assessment, the petitioner filed appeals before the Deputy Commissioner of Income-tax (Appeals), Bhopal, challenging the best judgment assessment made by the Income-tax Officer. The Deputy Commissioner of Income-tax (Appeals) by order dated October 28, 1993, dismissed the said Appeals Nos. I. T. A. No. 40 and 41/it/ 1993-94 and upheld the assessment orders. Feeling aggrieved, the petitioner filed revisions under Section 264 of the Act before the Commissioner of Income-tax. The said revisions were dismissed by common order dated December 9, 1994. Hence, this petition.