Case: Commissioner of Income Tax, Bangalore Vs. Poddar Martin Mining and Minerals Limited

The High Court agreeing with the decision of the Gujarat High Court in Navanagar Transport & Industries Limited v. Income Tax Officer, Special InvestigationAhmedabad ((1964) 54 ITR 271   : AIR 1965 Guj 105 : (1964) 2 ITJ 686), allowed the writ petition filed by the respondent and quashed the assessment proceedings on the ground that they are barred by time under Section 34(3) of the Indian Income Tax Act, 1922.

Court's reasoning:
2. The decision of the Gujarat High Court was taken up in appeal to this Court and the same was reversed. The decision of this Court is reported in M. M. Parikh, Income Tax Officer, Special InvestigationAhmedabad v. Navanagar Transport & Industrial Ltd. and Another ((1967) 2 SCR 38   : AIR 1967 SC 832 : (1967) 1 SCJ 285 : 63 ITR 663)  .3. If follows that the judgment and order of the Mysore High Court cannot be sustained and they are set aside