9911796707
TMI Blog2017 (9) TMI 2041X X X X Extracts X X X X X X X X Extracts X X X X ..... notified under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992 ("the Act" for short). The individual person's assets, including Bank Accounts were attached and stood vested in the hands of the Custodian appointed under the Act. The assessee was held to be a benamidaar of Harshad S. Mehta by the Special Court. In the circumstances, when the search and seizure operations were conducted at various premises of the assessee before the Assessment Year 1992-93, no Books of Account were found. For the year that is under consideration, namely, Assessment Year 1992-93, no return of income was filed by the assessee. The details of the transactions made by her were maintained only on computers. The data availa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee using the net accretion method. 5. It is apparent from this, according to Mr. Kotangle, that the assessee could not have approached the Appellate Authority again. However, she approached and against the assessment order dated 22-12-2006 on a total income of Rs. 5,37,15,976/. 6. The assessee attempted to produce certain Books before the Commissioner and thereafter found that she could not substantiate her bringing the same after this considerable delay. Still the assessee's appeal was partly allowed by the Commissioner on 29-2-2012. 7. Thereafter, the matter was carried to the Tribunal and in the impugned order the Tribunal has, without any adjudication of the issues raised, straightaway proceeded to set aside the impugne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Having perused the paper-book and in its entirety, we find that the Tribunal had before it an order of the Commissioner. There were on the issues and grounds raised as many as 13 objections by the appellant/assessee. He pointed out that the Commissioner could not have departed from his earlier views. More so, when in the earlier matters the Revenue has not questioned the approach of the Tribunal. There was an additional ground raised in the sense that the assessee contended before the Tribunal that the Commissioner ought to have appreciated that as per the decision of the Special Court, dated 30-4-2010, in Miscellaneous Petition No.41 of 1999 (by the Special Court for Trial of Offences relating to Securities), the assessment under cons ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
