COMMISSIONER OF INCOME TAX Vs. DINA NATH KATHORIA

JUDGEMENT

(1.) THE Tribunal has referred the following question of law under s. 256(1) of the IT Act, 1961, to this Court:

(2.) THE assessment year involved is 1970-71, for which the relevant accounting period is 1969 calendar year. Sec. 139(1) as it stood during the relevant period required every person whose total income during the previous year exceeded the maximum amount which was not chargeable to income-tax to furnish a return of his income in the prescribed form and verified in the prescribed manner within a period of six months from the end of the previous year or before the 30th day of June, of the assessment year, whichever was later.

(3.) SEC . 139(4) provided : "139(4)(a). Any person who has not furnished a return within the time allowed to him under sub-s. (1) or sub-s. (2) may, before the assessment is made, furnish the return for any previous year at any time before the end of the period specified in cl. (b), and the provisions of cl. (iii) of the proviso to sub-s. (1) shall apply in every such case; (b) the period referred to in cl. (a) shall be-- (i) where the return relates to a previous year relevant to any assessment year commencing on or before the 1st day of April, 1967, four years from the end of such assessment year; (ii) where the return relates to a previous year relevant to the assessment year commencing on the 1st day of April, 1968, three years from the end of the assessment year; (iii) where the return relates to a previous year relevant to any other assessment year, two years from the end of such assessment year."