T.S. Balaram, Income Tax Officer vs Volkart Brother& Ors.

Authority: Supreme Court Date: 1971-08-05 AY: 1958-59, 1959-60, 1960-61, 1961-62, 1962-63 Section: 154, 113(old), 2(31) Acts: Income Tax Act 1961, Indian Income Tax Act 1922, Constitution of India Result: Assessee Citation: (1971) 82 ITR 50 (SC) Justices: K.S. Hegde & A.N. Grover, JJ. Appeal No: Civil Appeal No. 1170 of 1968
Whether the Income Tax Officer had jurisdiction to rectify assessments under Section 154 of the Income Tax Act 1961 by applying Section 17(1) of the Indian Income Tax Act 1922 to a registered firm --- Held No, as the issue involved debatable points of law and not a 'mistake apparent from the record'.

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