SUNDARAM MAHADEO Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is a reference under Section 256(1) of the Income-tax Act, 1961, and the following question of law has been referred.

(2.) THE facts of the case may be briefly stated as follows I THE relevant assessment year relates to 1964-65. THE assessee-filed its return of income on October 17, 1964, showing an income of Rs. 50,146. THE Income-tax Officer, however, completed the assessment at an income of Rs. 1,01,380. In doing so, he made certain additions in various trading accounts both in head office and branch and also disallowed certain expenditures claimed by the assessee as business expenditures. On appeal, the Appellate Assistant Commissioner allowed certain reliefs and the total income was reduced to Rs. 86,801. On second appeal the Income-tax Appellate Tribunal reduced the income to Rs. 70,050 in round figure.

(3.) ON the above facts, the abovementioned question of law has been referred.