TaxTMI 
TaxTMI 
2010 (2) TMI 275
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....003, passed by the Commissioner of Income-tax, Jalandhar (1) by exercising jurisdiction under section 263 of the Act holding that on the basis of survey report conducted under section 133A of the Act the assessment completed under section 143(3) of the Act on November 14, 2005, by the Assessing Officer cannot be set aside by the Commissioner of Income-tax by exercising revisional jurisdiction. In that regard, the Tribunal has placed reliance on the views taken by the Hyderabad Bench in the case of Sri Harishankar Cashew Manufacturing Co. v. ITO [1992] 42 ITD 466 and the views of the Amritsar Bench in the case of Jolly Engineers and Contractors Pvt. Ltd. v. ITO [1982] 2 ITD 92 (Asr.). The aforesaid order of the Tribunal had attained finality....
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....Question: Please explain the process of the components received after machining from Auto Component Indl. Corpn. Baddi, District Solan in details. Answer: Ist operation, on the vertical machining centre on CNC machines. On this CNC machine drilling, reaming chamfering, pad milling operations are being done, with respect to dowel hole on next machine boring machine/and taping. After the above operation, rear cover will be ready for further assembly. In assembly few important parts like ram cylinder, response ball, rock shaft etc. are fitted to complete this sub-assembly. It is in respect of two type of rear covers received after receiving machine from Baddi. Question: From the above it is clear that at Baddi very small machini....
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.... CIT v. Perfect Liners [1983] 142 ITR 654. The claim of the assessee has been found to be genuine as the assessee has explained the various processes after the components are received from M/s. Auto Components Indl. Corporation, Baddi (Solan). It shows that after the receipt of components, the first operation undertaken by the assessee-respondent is the vertical machining centre on CNC machine which has been explained as under: "One this CNC machine drilling, reaming, chamfering, pad milling operation are being done, with respect to dowel hole on next machine boring machine/ and tapping. After the above operation, rear cover will be ready for further assembly. In assembly, few important parts like ram cylinder, response ball, rock ....