COMMISSIONER OF INCOME TAX Vs. ONKAR PRASAD SHAW

JUDGEMENT

(1.) THE Tribunal has referred the following question of law to this Court :

(2.) THE assessment year is 1958-59. The only thing that has been challenged is the Tribunal's finding that the assessee did not have reasonable opportunity to comply with or was prevented by sufficient cause from complying with the terms of the notices under s. 143(2) and s. 142(1) of the IT Act.

(3.) THE AAC ultimately ordered that the ITO would make a fresh assessment, after communicating to the appellant, the particulars of cash credits, viz., dates and amounts of the parties concerned as also the reason why the loans were not considered as genuine loans and how this fact was concealed at the time of the original assessment.