COLABA LAND AND MILLS CO LTD Vs. V S KONDASKAR

JUDGEMENT

(1.) This is an appeal on behalf of the original respondents from the judgment and order of Mr. Justice Vimadalal dated September 28, 1967, granting an order of injunction restraining the original respondents from assessing or reassessing the Colaba Land and Mills Company Ltd. hereinafter referred to as the "mills company" to income- tax for the assessment years 1950-51 to 1955-56.

(2.) It is sufficient to notice that in the Company Petition No. 221 of 1958 the official liquidator was appointed interim liquidator of the mills company by an order dated May 1, 1959. By an order dated October 7, 1959, the mills company was ordered to be wound up and the official liquidator was confirmed as liquidator of the mills company with all powers under section 457 of the Companies Act, 1956. By six different notices dated August 23 1966, issued under section 148, the Income-tax officer, Companies Circle 1187 Bombay, recorded in the respect of the assessment years 1950-51 to 1955-56 that the mills company had escaped assessment within the meaning of section 147 of the Income-tax Act, 1961, and that he therefore proposed to reassess the income of the mills company for these assessment years and called upon the liquidator to deliver to him within thirty days a return in the prescribed form of the income of the mills company assessable for these years. It was recorded that the said notices were being issued after obtaining the necessary satisfaction of the Central Board of Direct Taxes.

(3.) By six different notices for each of the above assessment year dated December 31, 1966, issued under section 142(1), the Income-tax officer Companies Circle, referred to the above six notices and called upon the official liquidator to produce certain documents and give in writing duly verified in the prescribed manner information called for in the forms attached thereto and on the points or matters specified, to the Income-tax Office on January 10,1967.