2000 (11) TMI 94

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..... Income-tax, Patna, is against the order of the Income-tax Appellate Tribunal, dated February 12, 1999, whereby and whereunder the Departmental appeals were dismissed. Learned counsel for the appellants only contended that the learned Tribunal has erred in law while rejecting the appeal. Because, in view of the provisions of section 176(3A) of the Income-tax Act, where any business is discontinue .....

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..... efore the discontinuation of the company, he would have been liable for payment of tax on such income. In this case, no such argument was ever advanced before the appellate authority nor any other ground was made out in this appeal. Therefore, it will not be open to the appellants to raise this question in this appeal. In our view, the submission made on behalf of the respondent appears justif .....

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