9911796707
TMI Blog2010 (11) TMI 795X X X X Extracts X X X X X X X X Extracts X X X X ..... consent of both the sides, we directed the Registry to put up this appeal also as this also arises out of the common order as in ITA Nos.106/2006 and 107/2006. Accordingly, this appeal is also taken up on the Board and disposed of. This appeal pertains to assessment year 1986-87. 2. A search came to be made in the premises of the Assessee in the year 1988. Therefore, there was rect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... KSD produced by the Assessee opined that in the revised returns filed by the Assessee, the income of ICA and KSD were wrongly included and that the income of the said entities could not be considered as income of the assessee. It also opined that in case of Transcorp Associates - Delhi, Megacorp-Bombay and Intercorp-Bombay should not be computed as the income of the assessee and the income of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the above entities while assessing income of the assessees was not valid in law as there was no material on record. Therefore, their Lordships held that the Assessing Officer was entitled to go into the accounts of the above said entities to find out whether the income of the said entities has any nexus with the income of the Assessee to fasten the tax liability, if any, on the respondent ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I.T earlier, there should not have been a fresh assessment orders. Therefore, the appeal came to be dismissed on technical and statistical fact as observed by the C.I.T. This again came to be challenged by the Revenue before the ITAT in another batch of appeals and the appellate authority upheld the orders of the Tribunal. These orders are questioned in the present appeals pertaining to the above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollow the directions of this court as this order dated 14.10.2008 has reached finality now. In that view of the matter, neither the assessment order passed on the second occasion nor the orders of the C.I.T nor the orders of the ITAT in the second round of litigation will hold good. Therefore, they are all set aside. In view of the fact that nothing remains for us to consider in this appea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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