CIT vs Tarachand Kalyanji (Bombay High Court)

Bombay High Court Commissioner Of Income-Tax vs Tarachand Kalyanji Decided on- 9 February, 1993 Income-tax Reference No 206 of 1978 Equivalent citations: 1993 204 ITR 43 Bom Author: S S Manohar Bench: S V Manohar, U Shah JUDGMENT Smt. Sujata Manohar, J. 1. The assessment year involved is 1969-70. The assessee carried on business as a building contractor. It had constructed more than 17 buildings for the Government and other authorities. In the year 1950, it was assessed to tax under the Excess Profits Tax Act and a tax of Rs. 25 lakhs was demanded from him in 1950. The assess...