{"id":160123,"date":"2003-01-07T00:00:00","date_gmt":"2003-01-06T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-taj-oil-traders-on-7-january-2003"},"modified":"2016-07-12T02:53:57","modified_gmt":"2016-07-11T21:23:57","slug":"commissioner-of-income-tax-vs-taj-oil-traders-on-7-january-2003","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-taj-oil-traders-on-7-january-2003","title":{"rendered":"Commissioner Of Income-Tax vs Taj Oil Traders on 7 January, 2003"},"content":{"rendered":"<div class=\"docsource_main\">Rajasthan High Court<\/div>\n<div class=\"doc_title\">Commissioner Of Income-Tax vs Taj Oil Traders on 7 January, 2003<\/div>\n<div class=\"doc_citations\">Equivalent citations: 2003 262 ITR 500 Raj<\/div>\n<div class=\"doc_bench\">Bench: Y Meena, K C Sharma<\/div>\n<\/p>\n<pre><\/pre>\n<p>JUDGMENT<\/p>\n<p>1. On a reference under Section 256(2) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, Jaipur, has referred the following question for our opinion :\n<\/p>\n<p>   &#8220;Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that in a protective assessment returned income should be accepted and any addition proposed to be made, should be made only where the substantive assessment is framed ?&#8221;\n<\/p>\n<p>2. The assessee has shown a deriving income from the trading of edible oils. The books of the assessee were seized under Section 131(3) of the Income-tax Act, 1961. From the record it was found that the firm existed only on paper as it did not carry on any business. The business was found to have been conducted by Shri Chula Ram, one of the partners of the firm. Therefore, the assessee-firm was taxed on protective basis and the income in the name of Taj Oil Trading was taxed in the hands of Chula Ram.\n<\/p>\n<p>3. None appeared for the assessee. Heard learned counsel for the Revenue.\n<\/p>\n<p>4. Learned counsel for the Revenue submits that now the substantive additions made in the hands of Chula Ram regarding the income shown in the name of Taj Trading, has become final. When the income shown in the name of the assessee-firm has been finally taxed in the hands of Chula Ram there is no justification to tax that income in the hands of the assessee-firm. Once the income has been assessed and taxed in the hands of Chula Ram, the question whether any addition should be made in the assessment on protective basis does not survive.\n<\/p>\n<p>5. In the result, we answer the question holding that once the income shown in the name of the firm, Taj Oil Trading, is assessed and taxed in the hands of Chula Ram there is no question of taxing the same income or any addition in the hands of the present assessee-firm.\n<\/p>\n<p>6. The reference application stands disposed of.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rajasthan High Court Commissioner Of Income-Tax vs Taj Oil Traders on 7 January, 2003 Equivalent citations: 2003 262 ITR 500 Raj Bench: Y Meena, K C Sharma JUDGMENT 1. On a reference under Section 256(2) of the Income-tax Act, 1961, the Income-tax Appellate Tribunal, Jaipur, has referred the following question for our opinion : &#8220;Whether, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,29],"tags":[],"class_list":["post-160123","post","type-post","status-publish","format-standard","hentry","category-high-court","category-rajasthan-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Commissioner Of Income-Tax vs Taj Oil Traders on 7 January, 2003 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/commissioner-of-income-tax-vs-taj-oil-traders-on-7-january-2003\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Commissioner Of Income-Tax vs Taj Oil Traders on 7 January, 2003 - Free Judgements of Supreme Court &amp; 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