DHAKA VEGETABLE OIL IND. LTD. Vs. COMMISSIONER OF TAXES
SUPREME COURT OF BANGLADESH
Dhaka Vegetable Oil Ind. Ltd.
COMMISSIONER OF TAXES
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MUSTAFA KAMAL,J -
(1.) These two appeals arise Out of a Certificate granted under section 66A (2) of the Income Tax Act, 1922 by a Division Bench of the High Court Division in Application Nos. 30 and 31 of 1989 in which the appellant formulated 5 questions of law for decision of the High Court Division under section 66(1) of the Income Tax Act, 1922, hereinafter referred to as the said Act.
(2.) The short facts for disposal of these appeals tie that, the appellant company, incorporated under the Companies Act, 1913, owns a factory for manufacturing soyabean oil and vegetable ghee. It was declared as an abandoned property and by order dated 17-5-72 it was placed under Bangladesh Food and Allied Products Cooperation, now Bangladesh Sugar Mills Corporation as a Nationalized Enterprise under Presidents Order No 27 of 1972. It has since been disinvested. The appellant company submitted return for the assessment years 1975-76 and 1976-77 showing an income of Taka 1,13,70,323.00 and a loss of Taka 1,02,349.00 respectively, with unaudited Trading and Profit and Loss Accounts but subsequently submitted a revised return for 1976-77 with audited statement of accounts showing a loss of Taka 42,48,262.00. The Deputy Commissioner of Taxes, Company Circle 11, Dhaka issued notices under sections 23(2) and 22 (4) of the said Act on the appellant for both the assessment years but none appeared before him on 20.4-76, the date fixed for hearing. On his own the said Commissioner adjourned the matter to 18-5-76 and also thereafter to 21-6-76. Then in the absence of the appellant the Deputy Commissioner made the assessment on 2 1-6-76 under section 23(4) of the said Act which is known as best judgment assessment and in so doing he rejected the trading accounts of the appellant for both the assessment years and for 1975-76 determined the total income at Taka 4, 86, 84,105.00 and for 1976-77 determined the total income at Taka 5, 71, 87,381.00.
(3.) The appellant preferred Income Tax Appeal Nos. 11/C-U/76-77 and 87/C-H/79-80 for 1975-76 and 1976-77 respectively before the Appellate Joint Commissioner of Taxes, A Range, Dhaka (North) Zone, Dhaka.;
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