ELECTRO HOUSE Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference, under s. 66(1) of the Indian IT Act, 1922, has been made in circumstances hereinafter related.

(2.) THE assessment years, which are involved in this reference, are 1959- 60 and 1960-61, corresponding to accounting years ended on December 31, 1958, and December 31, 1959.

(3.) I, therefore, propose to cancel the orders under s. 26A of the IT Act, 1922, for the asst. yrs. 1959-60 and 1960-61 under powers vested in me under s. 33B of the IT Act, 1922, unless you show cause why the orders should not be so cancelled.