2013 (12) TMI 310

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....er Section 260-A of of the Income Tax Act, 1961 (hereinafter referred to as the Act) has been filed against the order dated 26.10.2007 passed by the Income Tax Appellate Tribunal, Lucknow Bench, Lucknow. The Revenue has proposed the following questions said to be substantial questions of law which arises out of the order of the Tribunal:- "1.Whether on the facts and in the circumstances of the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ar 2001-2002. The respondent-assessee is a partnership firm and is engaged in the export business of dried animal products. It filed its return declaring income of Rs. 2,98,230/- on 29.10.2001 accompanied with the audited copies of profit and loss account and balance sheet under section 44AB of the Act. The return was processed under section 143(1) of the Act. It was selected for scrutiny and n....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....der section 271(1)(c) of the Act. The assessee preferred an appeal before the Commissioner of Income Tax (Appeals) who vide order dated 19.12.2006 dismissed the appeal confirming the order of the Assessing Officer. Feeling aggrieved the assessee preferred an appeal before the Tribunal. The Tribunal after considering the facts and circumstances of the case and various decisions of the Tribunal as w....