JUDGMENT

A. S. ANAND, J. :—The followling question was formulated by the High Court of Calcutta while granting the certificate of fitness to file these appeals against the judgment of the Division Bench of that Court dated 17th November, 1975 : (reported in 1977 Tax LR 716):

"Where an item unconnected with the escapement of income has been concluded finally against the assessee how far in reassessment on an escaped item of income it is open to the assessee to seek a review of the concluded item for the purpose of computation of the escaped income.?

The circumstances leading to the formulation of the aforesaid question and the grant of certificate of fitness to file the appeals are as follows:

2. Respondent in both the appeals is the assessee for the assessment year 1960-61, the assessee filed the return of income on 17th of November, 1960, showing a loss of Rs. 35,418/-. For the assessment year, 1961-62, the return of income was filed on 4th October, 1961, declaring a loss of Rs. 24,314/-. The Income-tax Officer after discussion with the authorised representative of the assessee. Shri A. S. Chowdhary, considered both the returns on 12-12-1962. and in respect of the return for the asse