TIKA RAM AND SONS PRIVATE LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) THE petitioner, a private limited company, filed a return of its income for the assessment year 1965-66. THE return was drawn up on the basis that the income of the previous year relevant to the assessment year 1965-66 was Rs. 3,79,889 and after setting off the aggregate of the losses carried over from the preceding years totalling Rs. 3,32,477 the net taxable income was Rs. 47,412. On the basis of the return, the petitioner paid a sum of Rs. 23,705 as self-assessed tax under Section 140A of the Income-tax Act, 1961.

(2.) ON August 21, 1965, the Income-tax Officer, A-Ward, Aligarh, served a notice upon the petitioner stating :

(3.) THE petitioner challenges the notice of demand by the instant petition for certiorari. THE petition came on for hearing before one of us sitting as a single judge and, as important questions of law were involved, the case was referred to a larger Bench, It has now been placed before us.