COMMISSIONER OF INCOME TAX Vs. KHEMRAJ LAXMICHAND

JUDGEMENT

(1.) THIS is a reference under S. 256(1) of the IT Act. The following questions have been referred to us by the Tribunal, Nagpur Bench, Nagpur.

(2.) THE matter relates to the asst. year 1963 -64, the accounting year being from Diwali 1961 to Diwali 1962 (November 9, 1961, to October 28, 1962). The assessee -firm, M/s Khemraj Laxmichand, Raipur, was allowed registration in the past, including the asst. year 1962 -63, that is, from Diwali 1960 to Diwali 1961.

(3.) THE Revenue took the matter in further appeal before the Tribunal. It was argued that it was not certain when the application for registration was really handed over to Shri R. S. Agrawal. Moreover, Shri R. S. Agrawal being an agent of the firm, the firm must suffer the consequences for default of its agent.