Law: Income Tax Act, 1961

Section: 147

Law: Income Tax Act, 1961

Section: 147

JUDGMENT J.M. Shelat, CJ.-This petition is for a writ of mandamus and/or prohibition or any other appropriate writ or orders, quashing or setting aside three notices dated March 28, 1964 issued under section 147 of the Income-tax Act, 1961, relating to the assessment years 1959-60, 1960-61 and 1961-62, and prohibiting the respondent from proceeding with any reassessment pursuant to the said notices. The petitioner-firm was assessed to income-tax for the assessment year 1959-60 by the Income-tax Officer, Circle II, Ward I, Ahmedabad, and for the assessment years 1960-61 and 1961-62 by the Income-tax Officer, Circle I, Ward A, Ahmedabad. For the assessment year 1962-63, the petitioner-firm filed its returns before the Income-tax Officer, Circle I, Ward A, Ahmedabad, but its case was transferred to the Income-tax Officer, Group Circle J, and at present the respondent is in charge of the assessments of the petitioner-firm for the assessment years 1962-63 and 1963-64. The petitioner-firm has been carrying on business in mill stores and has also been importing certain goods, such as chucks, brass rules, steel rules, diesel engine parts, ball-bearings, etc., besides dealing in other mill stores and general merchandise goods. In the course of its business, the firm has been selling these goods to several mills and merchants and also to Messrs. A. M. Shah and Co. and Messrs. R. Ambalal and Co., which firms are Hindu undivided family firms, the respective kartas whereof are the two partners in the petitioner-firm. The two Hindu undivided family firms started their business in the account year 1958-59 and they also have been importing mills stores and other goods. The two Hindu undivided family firms are established importers in respect of the aforesaid mill stores and general merchandise goods and are dealing with several merchants besides the petitioner-firm. Since the assessment year 1959-1960, the two Hindu undivided family firms are being assessed to income-tax. In the couse of its business, the petitioner-firm has been maintaining regular books of account, such as cash book, ledger, purchase journals, sales journal and a stock ledger. It also maintains bills and…

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