Judgement

MAHAJAN C.J.I. : This appeal concerns the same assessee as Appeal No. 217 of 1953 and relates to the assessment of its profits for the years 1945-46, and 1946-47, the account years being 1943-44 and 1944-45. The facts and circumstances relating to these assessments are the same as have been stated in our judgment in Dhakeshwari Cotton Mills Ltd. v. Commr. of Income-tax, Bengal , AIR 1955 SC 65 (A), and it is unnecessary to re-state them here. The assessee duly furnished returns for these years within the time allowed to it but the profits returned regarding these years could not be computed according to the provisions of law as the relative books of account were in the court of the Sub-Divisional Magistrate, Narayanganj and were not received back by the assessee till after the completion of the assessment.

The Income-tax Officer did not accept the estimate disclosed of the gross profit and sales during the years and for reasons stated in the judgment relating to 1944-45 assessment he held that during these years also full amount of sales had not been accounted for. He therefore added back Rs. 23,67,000 in the year 1944 and Rs. 24, 55,000 in the year 1945. The profit disclos