C.K.Banerji, J. - (1.) This reference under Section 66(1) of the Indian I.T. Act, 1922, at the instance of the Commissioner of Income-tax, (Central), Calcutta, arises out of proceedings under Section 23A of the Indian I.T. Act, 1922, initiated against Coochbehar Trading Co. (Private) Ltd., the assessee, in respect of the assessment years 1959-60, 1960-61 and 1961-62, for which the relevant previous years are the calendar years 1958, 1959 and 1960, respectively.
(2.) The facts found and/or admitted are shortly as follows :
(3.) The assessee being a company in which public are not substantially interested came within the mischief of the provisions of Section 23A of the Indian I.T. Act, 1922.;