MULCHAND Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS petition under Article 226 of the Constitution filed by a Hindu undivided family styled "M/s. Jainarayan Mulchand", Nainpur, through its karta, is directed against the order of the Additional Commissioner of Income-tax, Madhya Pradesh, Bhopal, dated November 27, 1970, rejecting its objections to the three revised and rectified notices of demand dated March 9, 1964, issued by the Income-tax Officer, "C" Ward, Jabalpur, under Section 156 of the Income-tax Act, 1961, by which he raised a demand on the petitioner for payment of Rs. 1,345.98, Rs. 7,384.49 and Rs. 18,388-48 towards its two annas share income from the firm, M/s. Rambilas Murlidhar and Balaram Toluram of Tumsar, for the assessment years 1956-57, 1957-58 and 1958-59.

(2.) THE validity of the impugned notices of demand is challenged before us on two grounds, namely :

(3.) FOR the assessment years 1956-57, 1957-58 and 1958-59, the corresponding accounting years of which were Diwali 1955, Diwali 1956, Diwali 1957, the assessee filed a statement accompanying its returns to the effect: