S C CAMBATTA AND CO PRIVATE LIMITED BOMBAY Vs. COMMISSIONER OF EXCESS PROFITS TAX BOMBAY

JUDGEMENT

(1.) THE following Judgment of the court was delivered by

(2.) THESE are two appeals, with special leave, against an order of the High court of Bombay rejecting a petition under s. 66(2) of the Indian Income-tax Act and the order of the Income-tax Appellate tribunal, Bombay, in respect of which the petition to the High court was made. Messrs. S. C. Cambatta and Co. (Private) Ltd., Bombay, have filed these appeals, and the Commissioner of Excess Profits Tax, Bombay, is the respondent.

(3.) PETITIONS under ss. 66(1) and 66(2) read with a. 21 of the Excess Profits Tax Act were respectively rejected by the tribunal and the High court; but the appellants obtained special leave from this court, and filed these appeals.