2011 (7) TMI 229

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....h Baruah, Advocate with Mr. Balvir S. Dosanjh, Advocate. A.K. SIKRI, J. (ORAL)   1. These appeals are filed challenging the orders of the Income Tax Appellate Tribunal (hereinafter referred to as „the Tribunal‟) under Wealth Tax proceedings granting the respondent/assessee benefit of Section 2(ea) of the Wealth Tax Act, 1957 holding that since the property in question held b....

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....at the assessee had done job work did not repose any confidence in absence of requisite details and there was no proof submitted by the assessee that it had done some job work. The CIT (A) even called upon the AO to look into the issue of reopening of the income tax proceedings to disallow depreciation, as according to him, no commercial activities were carried out by the assessee.   4. Th....

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.... these years. The Tribunal further found that though no regular assessment under Section 143(3) of the Act for the Assessment Years 2001-02 to 2004-05 had been made by the AO and in those Assessment Years, the assessment was completed under Section 143(1) of the Act, insofar as the Assessment Years 2005-06 to 2006-07 are concerned, the case of the assessee for these years was selected for scrutiny....