Supreme Court of India
Maharaj Kumar Kamal Singh v. The Commissioner of Income-tax, Bihar & Orissa
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What the Court ordered
We hold that the Patna High Court was right in coming to the conclusion that the decision of the Privy Cou·ncil was information within the meaning of s. 34 (l)(b) and that the said decision justified the belief of the Income-tax Officer that part of the appellant's income had escaped assessment for the relevant year.
Judgment, page 18
From the headnote
Income Tax-Re-assessment - Escaped income -Assessment order based on statement of law subsequently found to be erroneous- W hcther assessment can be reopened-" Information", "Escaped income", meaning of-Indian Income-tax Act, r922 (XI nf r922), as amended by Act 48 of r948, s. 34(r)(b). In respect of the assessment of the appellant to income-tax the Income-tax Officer excluded the amount of interest on arrears of rent received by him, in view of the decision of the Patna High Court in Kamakshya Narain Singh v. Commissioner of Income-tax, [1946] 14 I. T. R. 673, that this amount was not
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