MANINDRANATH DASH Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) FOR the assessment year 1946-47 the petitioner was assessed under Section 23(3), Income-tax Act, upon the total income of Rs. 32,689/-. After the assessment was completed the Income-tax Officer received information that on 19-1-1946, the petitioner had encashed high denomination notes to the extent of Rs. 28,000/-. Proceedings were thereupon initiated under Section 34, Income-tax. Act. The assessee filed a fresh return and gave explanation that the amount of Rs. 28,000/- represented the amount of savings accumulated from his personal income upon which income-tax had already been paid. In his letter dated 16-6-1947 the assessee states:

(2.) IN this state of facts the INcome-tax Appellate Tribunal has referred the following question of law for the opinion of the High Court: