2009 (9) TMI 656

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hort, "the Act"), against the order of the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar, dated Septem-ber 16, 2008, passed in M. A. No. 64 for the assessment year 2002-03, pro-posing to raise the following substantial questions of law :   "(i) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is right in law in holding that the order pas .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e decision of this court in CIT v. Munish Iron Store [2003] 263 ITR 484. The Tribunal upheld the said order. The Revenue, inter alia, relied upon the amendment incorporating section 271(1B) inserted by the Finance Act, 2008, with effect from April 1, 1989.   Notice was issued in view of the earlier judgment of this court in CIT v. Pearey Lal and Sons (EP) Ltd. [2009] 308 ITR 438 (P&H). In sp .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X