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2006 (1) TMI 99 - HC - Income Tax"1. Is not the notice dated October 1, 1993, issued u/s 148 legal and valid in the light of the amended provision contained in section 148 as per the Finance (No. 2) Act of 1996? 2. Whether Tribunal is justified in rejecting the contention of the assessee that the assessment order dated March 26, 1997, was barred by limitation in terms of section 153(2)? - questions posed are all answered in favour of the Revenue and against the assessee. - assessing authority had concluded that the assessee had suppressed production of tins and that the suppressed stock of 42,586 tins were sold outside the accounts. The assessing authority adopting the average sale price of ₹ 39 per tin, had made an addition towards unaccounted sale of tins - findings by the assessing authority which were confirmed by the appellate authority cannot be disturbed.
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