Commissioner Of Income Tax vs Narsee Nagsee & Co.

Authority: Supreme Court Date: 1960-05-06 AY: 1949-50 Section: 147, 147(a), 139(2) Acts: Business Profits Tax Act, 1947 (Act XXI of 1947), Indian Income Tax Act (pre-1961) Result: Assessee Citation: (1960) 40 ITR 307 (SC) Justices: S.K. Das, Kapur & Hidayatullah, JJ. Appeal No: Civil Appeal No. 319 of 1958
Whether the Income Tax Officer had jurisdiction to assess the assessee under the Business Profits Tax Act by issuing a notice under section 11(1) on 12th January 1953 for the chargeable accounting period 13th November 1947 to 31st October 1948 without recourse to section 14 --- Held No. Whether the business profits tax assessment could be considered validly made --- Held No.

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