1966 AIR SC 570 The Judgment was delivered by SIKRI J. SIKRI J. This is an appeal by certificate of the High Court of Andhra Pradesh against its judgment dismissing a petition filed under article 226 of the Constitution by the appellant.
The Income tax Officer disallowed the amount but the Appellate Assistant Commissioner, on appeal, allowed the entire sum of Rs.
48, 600 as development rebate in respect of the four new buses purchased by it and brought to use during the year.
48, 600 as development rebate.
The appellant thereupon filed a petition in the High Court on February 19, 1962, praying inter alia that the Income tax Officer be prohibited from proceeding with the rectification of the income tax assessment for 1959 60, as per the memorandum dated February 7, 1962.
The appellant is a private limited companypany, hereinafter referred to as the companypany, and three persons hold shares of the companypany as under Shares Amount Rs Sri C. P. Sarathy Mudaliar 2, 797 27, 970 Sri C. P. Singaram 420 4, 200 Sri C. P. Doraiswamy 500 5, 000 The companypany was doing transport business and for the assessment year 1959 60 previous year ending 31st March, 1959 it claimed a sum of Rs.
