COMMISSIONER OF INCOME TAX Vs. TECALEMIT I LTD

JUDGEMENT

(1.) THE following question of law has been referred to this Court by the Tribunal under S. 256(2) of the IT Act, 1961 ('the Act'):

(2.) THE assessment year involved in this reference is the asst. yr. 1964-65 for which the corresponding period of account is year ending 31st March, 1964.

(3.) THE ITO made an assessment under S. 144 of the Act on the basis of the revised return and this was cancelled under S. 146 of the Act and a fresh assessment was made under S. 143(3) computing the total income of the assessee for the period 1st Aug., 1963 to 31st March, 1964 on a total income of Rs. 3,07,439. Both, in the original assessment and in the subsequent fresh assessment the assessee was described as Tecalemit (India) Ltd. (through Successor-Tecalemit (Hind) Ltd.). It may be mentioned that when the original assessment was made, objection was raised on behalf of the Indian company as to the validity or the correctness of the proceedings taken by the ITO and in fact the notices were issued by the ITO which were duly complied with.