| Case ID |
0355494c-29df-4fa9-85d2-8b0b40e1a523 |
| Body |
View case body. Login to View |
| Case Number |
IT REFERENCE No. 570 OF 1963 |
| Decision Date |
Mar 11, 1968 |
| Hearing Date |
|
| Decision |
The Income-tax Officer was justified in initiating proceedings and completing the assessment under section 34(1)(a) for the assessment years 1946-47, 1947-48, and 1948-49. The Tribunal had allowed the assessee's appeals and dismissed those of the Income-tax Officer. However, the High Court found that the Income-tax Officer acted within his powers as both sections 34(1)(a) and 34(1A) operated in the same field for the assessment year 1946-47. The case was decided in favor of the revenue, emphasizing the importance of full disclosure of material facts by the assessee during original assessment proceedings. |
| Summary |
In the case of R.B. Ram Rattan Prem Nath vs. Commissioner of Income Tax, the Allahabad High Court addressed the issue of income escaping assessment under the Income-tax Act, 1961. The court examined whether the Income-tax Officer (ITO) was justified in initiating reassessment proceedings under section 34(1)(a) for the assessment years 1946-47 to 1948-49. The case highlighted the significance of the ITO's authority to reassess income based on the facts disclosed during the original assessment. The court ruled that the ITO acted within his jurisdiction, as the provisions of section 34(1)(a) and 34(1A) overlapped, allowing the ITO to choose either route for reassessment. This case underscores the necessity for assessees to fully disclose all material facts during assessments to avoid reassessment. Key phrases such as 'Income escaping assessment', 'Income-tax Act', and 'reassessment proceedings' are crucial for understanding the implications of this judgment and are trending in legal discussions. |
| Court |
Allahabad High Court
|
| Entities Involved |
Not available
|
| Judges |
JAGDISH SAHAI,
R.S. PATHAK
|
| Lawyers |
Ashoke Gupta,
R. L. Gulati
|
| Petitioners |
R.B. Ram Rattan Prem Nath
|
| Respondents |
Commissioner of Income Tax
|
| Citations |
1969 SLD 636,
(1969) 71 ITR 624
|
| Other Citations |
Calcutta Discount Company v. ITO [1961] 41 ITR 191 (SC),
CIT v. Shahzada Nand & Sons [1966] 60 ITR 392 (SC),
K.S. Rashid and Sons v. ITO [1964] 52 ITR 355 (SC),
Laxminarayan R. Rathi v. ITO [1964] 52 ITR 254 (Bom.)
|
| Laws Involved |
Income-tax Act, 1961
|
| Sections |
147
|