Bhanji Bagawanda vs Commissioner Of Income Tax

Authority: Supreme Court Date: 1967-07-18 AY: 1948-49 Section: 147, 147(a), 150, 149, 256(1), 256, 148, 153 Acts: Income Tax Act 1922, Income Tax (Amendment) Act 1959 (Act 1 of 1959), Finance Act 1956 Result: Remanded Citation: (1968) 67 ITR 18 (SC) Justices: J.C. Shah, S.M. Sikri & V. Ramaswami, JJ. Appeal No: Civil Appeal No. 1984 of 1966
Whether reassessment proceedings under Section 34 for AY 1948-49 were saved from limitation by the second proviso to Section 34(3) based on the AAC's finding in appeal for AY 1949-50 --- Held No, as per Supreme Court's interpretation in Murlidhar Bhagwan Das. Whether the reassessment could be validated by the Income Tax (Amendment) Act 1959 --- Remanded to High Court for examination.

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