Supreme Court · 1979 INSC 2 · Decided 4 January 1979
Income Tax Officer & ORS. v. M/S. Madnani Engineering Works LTD., Calcutta
- Court
- Supreme Court of India
- Citation
- 1979 INSC 2 · [1979] 2 S.C.R. 905
- Case number
- CIVIL APPEAL No. 829/1975
- Decided
- 4 January 1979
- Bench
- P.N. BHAGWATI, A.D. KOSHAL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 141(a), 148
Headnote
905 Income Tax Act, 1961-S. 141(a)-Scope of-Income 1"ax Officer at first t' refused .to give reasons for beUeving that income tscaped assessment-In the seco1i'd af]ida1•it did not set out any material for the basis of his belie/­ Validity of. .. -In respect of the assessment year it claimed to have borrowed montya on hundis. In January, 1968 the Income Tax Officer issued a notice to the '!SSessee under s. 147(a) of the Inoome-tax Ac~ 1961 on the ground that the transattiOns of loans represented by the hundis were bogus and no interesl- was paid by it to any of the
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