ORIENTAL RUBBER WORKS Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) M/s Oriental Rubber Works, the assessee, filed its return of income for the assessment year 1961-62, on or about September 19, 1962. On or about February 19, 1965, the income-tax authorities searched the office and factory premises of the assessee and seized certain books and documents under the provisions of the Income-tax Act.

(2.) By an order dated March 25, 1966, the Income-tax Officer, "F" Ward, District IV(3), Calcutta, assessed the income of the assessee for the said assessment year under Section 43 of the Income-tax Act, 1961, computing the total taxable income at Rs. 10,86,483.

(3.) The Income-tax Officer also found that the assessee had concealed its income and issued a notice under Section 274 read with Section 271 of the Income-tax Act, 1961, as follows: Dated: March 24, 1966.