DWADESH SHRENI P C AND COMPANY PRIVATE LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THIS writ petition, under article 226 of the Constitution, is directed against the orders of the Income tax Officer dated the 22nd January, 1962, imposing penalties of Rs. 917 and 5,897 under section 46(I) of the Income tax Act (hereinafter referred to as the Act) and for failure to consider or pass any order on the application of the assessee dated 30th December, 1961, made under section 45 of the Act.

(2.) THE facts leading up to this petition are these. THE assessee company was incorporated on the 29th May, 1941. It carried on the business of publishing and printing at Aligarh with branches at other places. THE company was assessed for the first time to income-tax and excess profits tax for the assessment year 1942-43 and the relevant chargeable accounting period. THE assessee continued to make advance payments of tax and assessments continued to be made from assessment years 1942-43 to 1954-55 and according to the assessee the amounts refundable to the petitioner up to the assessment year 1954-55 worked out to Rs. 91,368.62 nP. THE total loss to be carried forward from the year 1953 to the following year amounted to Rs. 51,745.

(3.) IN the first relevant assessment year 1955-56 the assessee had filed a return showing a loss of Rs. 37,218. The INcome-tax Officer estimated the assessees income at Rs. 1,01,683 by an assessment order dated 30th March, 1960. Against the income so determined the INcome tax Officer only set off Rs. 17,502, which was the loss carried forward according the assessment order for 1954-55 and levied tax on a net income of Rs. 84,181 and the tax of Rs. 42,709.27 nP. was demanded by a notice of demand dated 30th March, 1960, requiring payment by 30th April, 1960.