TMI Blog2007 (9) TMI 696X X X X Extracts X X X X X X X X Extracts X X X X ..... er of the Commissioner (Appeals), Agra whereby he annulled the assessment order dated 29-5-1980 by following the Tribunal's order dated 30-12-1979. 2. The assessee-respondent is doing business under the name of M/s. Agarwal Scientific Glass Industries, Agra, dealing in manufacture and sale of Scientific Laboratory equipment. He filed a return of Income-tax for the assessment year 1972-73, the accounting for which had ended on 31-3-1972. An income of ₹ 29,407 was returned. The balance sheet filed in support of the return of income-tax showed three creditors as follows :- 1. M/s. K.K. Trading Corporation, Bombay ₹ 1,09,463 2. M/s. Reliable Trading Co., Bombay ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cted by the Commissioner of Income-tax. In the meantime the voluntary disclosure of Income and Wealth Ordinance, 1975 was promulgated and the assessee made another disclosure petition stating that ₹ 80,412 that was the credit balance in the accounts of M/s. Reliable Trading Company and M/s. K.K. Trading Corporation, Bombay as on 31-12-1973 represented his own money which was utilised to make purchases from Bombay in respect of which he was unable to get any vouchers. It was also asserted that he had taken several other amounts as loans from his wife, mother and other members of the family. The wife and other members of the family also filed voluntary disclosure petitions under the aforesaid Ordinance declaring the respective amounts t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lowing the assessee an opportunity of being heard. 5. The assessee then appealed to the Income-tax Appellate Tribunal which, after taking into consideration the respective submissions of the learned counsel for the parties and the material on record, set aside the order of the Commissioner, by order dated 31-12-1979. It may be stated here that in the question referred to above, the date of order of the Tribunal is incorrectly mentioned as 30-12-1979 instead of 31-12-1979. 6. Against the aforesaid order of the Tribunal, the following question for opinion of this Court in Income-tax Reference No. 299 of 1980 was referred at the instance of the Income-tax Department :- Whether the Income-tax Appellate Tribunal, New Delhi was justifie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner of Income-tax (Appeals) who by order dated 19-2-1981 annulled the fresh assessment order on the ground that the order of the Commissioner under section 263 of the Income-tax Act is without jurisdiction which gave jurisdiction to the Assessing Officer to make fresh assessment has been set aside by the Tribunal. The said order of CIT(A) was unsuccessfully challenged before the Tribunal by the department. The Tribunal vide order dated 7-6-1982 upheld the order of CIT(A). On these facts, the aforestated question mentioned in the opening of the judgment has been referred by the Tribunal as per direction of the High Court given in Income-tax Application No. 149 of 1983. 10. Heard Sri A.N. Mahajan, learned Standing Counsel for the de ..... X X X X Extracts X X X X X X X X Extracts X X X X
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