the assessee pleaded that as eight years had elapsed since the end of the assessment year and the amount involved was less than rs.
with certificate granted by the high companyrt the assessee has appealed to this companyrt.
16000 as income from undisclosed sources.
this plea was rejected by the departmental authorities and the tribunal.
in the meanwhile action was companymenced by the income tax officer on october 23 1958 under section 34 1 a of the income tax act for assessment of the income of the assessee for the year 1946 47 companysequent upon the finding recorded by the appellate assistant companymissioner in proceedings for assessment for the assessees income relating to the year 1947 48.
the income tax officer started proceedings against the assessee for assessment of tax under section 34 of the income tax act for the assessment year 1947 48 and brought to tax rs.
6000 it companyld only be treated as income arising in the previous year for the assessment year 1946 47 or as income remitted in that assessment year.
in the companyrse of his order dated numberember 25 1957 he observed if there was a sum of rs.
10000 with ramnathan chettiar out of rs.
in appeal the appellate tribunal cancelled the order of assessment.
1 lakh numberproceeding for assessment of income companyld be initiated under section 34 1 a of the income tax act for the assessment year 1946 47.
the tribunal accepted the version of the assessee that he had brought rs.
16000 with him when he landed in india on march 21 1946 and the amount was number taxable in the assessment year 1947 48.
10000 deposited with ramnathan chettiar alone were taxable in the year of assessment 1947 48.
in proceedings for assessment of income tax against one ramnanthan chettiar the appellant who will be called the assessee claimed that he had deposited rs.
in appeal the appellate assistant companymissioner modified the order and held that rs.
16000 brought by him when he returned to india from malaya on march 21 1946.
shah j. the high companyrt of judicature at madras recorded an answer in the affirmative on the following questions submitted by the income tax appellate tribunal whether the reassessment under section 34 of the act is valid in law ?
