3,45,000 out of the suspense account running from 1946 47 to 1948 49 to the capital reserve account.
In the proceedings for assessment of tax for the year ending 30.6.1964 relevant to the Assessment year 1965 66, the assessee transferred a sum of Rs.
1999 1 SCR 400 The following Order of the Court was delivered The respondent assessee is a private limited companypany.
1,29,.000 was with reference to the deposits and advances which had been paid back and he included a sum of Rs.
The Income Tax Officer found that an amount of Rs.
The assessee went on appeal before the Appellate Assistant Commissioner and the order of the T.O. was companyfirmed.
The decision of the Tribunal was challenged before the High Court.
The assessee carried the matter to the Tribunal.
