2013 (3) TMI 173

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....R Instant income tax appeal has been filed by the assessee U/s 260A of the Income Tax Act,1961 ("Act,1961") assailing order of the Income Tax Appellate Tribunal dt.04.11.2011 dismissing appeal preferred by the appellant-assessee regarding reassessment being made by the assessing authority on reopening of the proceedings pursuant to notice dt.06.12.2005 U/s 148 of the Act,1961 for the assessment....

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....12.2006. It will be relevant to record that the primary objection noticed by the assessing authority while serving notice upon the assessee as provided U/s 148 of the Act,1961 was in regard to dis-allowance of salary of Rs.1,50,000/- to the Managing Director of the assessee company on 30th March,2002 in cash and Rs.5 Lacs towards advance salary for the assessment year 2002-03 in cash on 10.04.2002....

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.... reassessment passed by the assessing authority dt.18.12.2006 the matter travelled upto Income Tax Appellate Tribunal. However, order came to be passed jointly for the assessment years 2002-03 & 2004-05 but counsel for appellant submits that he is only aggrieved in regard to reopening of the assessment made for the year 2002-03 and has no grievance as regards assessment year 2004-05 of the order o....

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....see as regards assessment year 2002-03 vide order dt.04.11.2011. We have heard counsel for appellant at length and also gone through the substantial question of law which he re-framed under the directions of the Court but we are of the considered view that merely question of law is not sufficient and the requirement of statute is that there should be a substantial question of law which requires....