Law: Income Tax Act, 1922

Section: 34,34(2)(A),5(5),3

(a) Income tax Act (XI of 1922)--S. 34 (2) (A) Leave to appeal granted to consider whether High Court Division correctly interpreted provisions of subsection (2)(a) of S. 34, Income tax Act, 1922. (b) Income ax Act (XI of 1922) - S. 5(5) Person Leave to appeal granted to consider whether expression 'person' mentioned in subsection (5) of S. 5 of Income¬-tax Act was correctly interpreted by High Court. (c) Income tax Act (Tax of 1922) - S. 34(2) (A) Income tax Officer, held could issue any fresh notice upon assessee under amended provision of & 34(1) even after expiry of 8 years. (d) Income tax Act (XI of 1922) - Ss. 3 & 5(5) Person Subsection (5) of S 5 to be read in conjunction with S. 3-Person mentioned in subsection (5) of S. 5 included an association of persons or a firm or a company or a local authority Income tax Department, held, quite competent to assess income tax even upon a firm. JUDGMENT A. T. M. MASUD, J. These two appeals by special leave arise from the judgment of a Bench of the High Court Division passed on July 22, 1980, in Application No. 6 of 1976 under section '66 (1) of the Income--tax Act. The Commissioner of Taxes, Chittagong Zone, is the appellant in Civil Appeal No. 114 of 1981, wherein leave was granted to consider whether 4 the High Court Division correctly interpreted provisions of subsection (2)(a) of section 34 of the Income tax Act. The assessee is the appellant in Civil Appeal No. 115 of 1981 wherein leave was granted to consider whether the B expression 'person' mentioned in subsection (5) of section 5 of the Income tax Act was correctly interpreted by the High Court Division. 2. The assessee Messrs M. Ismail & Sons, which is a wholesale dealer in Yarn and Textile and Clearing and Forwarding Agent, was originally assessed income tax on 22nd July, 1950, on a total income of Tk. 44,702. On February 16, 1962, notice under section 34 of the Income tax Act was issued upon it for re assessment, the ground being that it was under assessed for the year concerned. The assessee appeared and submitted return under protest and showed the income at Tk 44,702 the income which was originally shown claiming that no part of its…

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