( 1 ) THE assessee, a public limited company, is a manufacturer and dealer, inter alia, in steel wire products. In the computation of the total income for the assessment year 1957-58 (corresponding to the accounting year ending with March 31, 1957), the assessee claimed the following amounts as deductions: (1) Contribution of Rs. 1,50,000, to the Indian National Congress. (2) Provision for payment of bonus amounting to Rs. 5,55,000, in addition to the actual payment of bonus during the accounting period, and (3) Anticipated wealth-tax liability amounting to Rs. 1,62,653.

( 2 ) THE Income-tax Officer allowed the first and the second claim but disallowed the third and completed the assessment some time in March, 1958. The assessee preferred an appeal against the order of assessment, before the Appellate Assistant Commissioner, on or about April 8, 1958. During the pendency of the appeal before the Appellate Assistant Commissioner, the Income-tax Officer issued a notice, under Section 34 (1 ) (b) of the Indian Income-tax Act, on August 30, 1958, requiring the assessee to submit a revised return for the year 1957-58. The assessee filed a return on September 9, 1958, unde