Rajagopalan, J.-The petitioner is the son of the late S. K. Mohideen, hereinafter referred to as the assessee. The assessee was a partner of Dinshaw and Company and of the firm Palaniappa Chettiar (Jupiter Pictures) among other concerns. The assessment of Mohideen for the assessment years 1946-47 and 1947-48 was completed on 20th February, 1950. By that date the assessment of the firm of Palaniappa Chettiar for 1947-48 and that of Dinshaw and Company, for the years 1946-47 and 1948 had not been completed. Mohideen’s assessment was however completed, accepting provisionally his estimates of his share of the losses of those two partnership concerns. The assessee’s share of the looses of Dinshaw and Company was shown as Rs. 20,000 for 1946-47 and as Rs. 10,000 for 1947-48, and his share of the losses in the firm of Palaniappa Chettiar for 1947-48 was shown as Rs. 12,436.

The assessment of Dinshaw and Company for both the years was completed on 31st October, 1950. As against the Rs. 20,000 provisionally accepted as the assessee’s share of the loss for 1946-47, Rs. 15,839 was ascertained as his share. For the assessment year 1947-48 the assessee’s share of the loss was ascertained as Rs.

Click Here to Read the rest of this document