Dipak Kumar Sen, J. - (1.) Delta Jute Mills Co. Ltd., the assessee, was first renamed as Budge Budge Amalgamated Mills Ltd. and has been again renamed as Cheviot Mills Ltd.
(2.) By an order of this court dated September 26, 1961, Belvedere Jute Mills Co. Ltd. was amalgamated with the assessee with effect from November 30, 1961.
(3.) In computing the taxable income of the assessee for the assessment year 1966-67 (the corresponding year ending on November 30, 1965), the Income-tax Officer included a sum of Rs. 58,476 as profits under Section 41(2) of the Income-tax Act, 1961, without assigning any reason for the same. The Income-tax Officer also included a further sum of Rs. 67,012 as profits under the said Section 41(2) arising out of the sale of the assets of Belvedere Jute Mills Co. Ltd. which were not used in the business of the assessee.;