COMMISSIONER OF INCOME TAX Vs. RAMA JAIN

JUDGEMENT

(1.) BOTH these cases are reference under section 66(2) of the Income-tax Act, 1992. At the instance of the Commissioner of Income-tax, this court directed the Appellte Tribunal, under section 66(2) of the Income-tax Act (hereinafter referred to as the Act) to draw up a statement of the case and to refer the following questions of law for the opinion of this court. The question referred are in indentical terms with only one difference that in one case it refers to the assessment year 1946-47, while in the other it refers to the assessment year 1947-48. So far as the assessment year 1946-47 is concerned, the question referred is as follows :

(2.) WHETHER, on the facts and circumstances of this case, provisions of section 34 of the Income-tax Act have been validly applied by the Income-tax Officer for the assessment year 1946-47 ?