JUDGMENT - 1. By this application, the petitioner, Income-tax Officer, Companies Circle II (3) Bombay, applied for a certificate to file an appeal against the decision of this Court in a Writ Petition under Article 326 of the Constitution (Misc. Appln. No. 99 of 1962, D/- 4-8-1962, (Bom) ). In that application, the Phalton Sugar Works Ltd., a company registered under the Companies Act, now the respondents before us in this application, were assessed to Income-tax for the assessment years 1949-50 and 1950-51. On 5th March 1958, the Income-tax Officer, Special Circle, Bombay, served on the Phalton Sugar Works Limited, two notices under Section 34 (1) (a) of the Act for the purposes of re-assessing their income for the assessment years 1949-50 and 1950-51, on the ground that he had reason to believe that the income for those years had escaped assessment or had been under-assessed. It was these two notices which were challenged by the Phalton Sugar Works In the Writ petition before this Court. In their petition, the Phalton Sugar Works Limited, prayed for the issue of a writ of certiorari or a writ in the nature of certiorari or other writ, direction or order under Article 226 of the C

Click Here to Read the rest of this document