JUDGMENT

TULZAPURKAR, J.:— The point raised in this appeal by certificate seems to be covered by two decisions of this Court in favour of the assessee and hence we propose to dispose of the appeal by a short judgment.

2. The appellant, a firm, carries on business of manufacturing ice and preservation of potatoes in its cold storage. It was assessed to income-tax for the assessment year 1961-62 by an assessment order dated July 5, 1961 on a total income of Rs. 53, 548/-. In proceedings started on December 21, 1961 under Sec. 34 (1) of the Indian Income-tax Act, 1922 the Income-tax Officer found certain property income and income to the extent of one lakh from potato transactions put through in the name of benami persons by the assessee had escaped assessment and, therefore, by his order dated December 22, 1965 he brought them to tax . The said order of the Income-tax Officer was annulled by the Appellate Assistant Commissioner appeal on May 10, 1967 on the ground that the initiation of reassessment proceedings was not justified. The department allowed the matter to rest there and the Assistant Appellate Commissioners order became final. On July 14, 1967 the Income-tax Officer issued