2015 (8) TMI 332

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....ner of Income Tax (Appeals) [for short 'CIT (Appeals)'] which, in turn, had upheld the assessment order. The matter pertains to the assessment year 1992-93. 2. The appellants contend that the following substantial questions of law arise:- "I. Whether, the Tribunal was justified in holding that the assessment framed u/s 143(3) of the Act is valid in law, as admittedly appellant has not complied with the notices issued u/s 142(1)(a) and 142 (1)(b) of the Act, as such assessment should have been framed u/s 144 as against section 143(3) of the Income Tax Act, 1961? II. Whether the Tribunal was justified in law in upholding the order of assessment framed under section 143(3) of the Act by taking recourse of section 292B of the A....

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....al have, in considerable detail, indicated how the appellants have managed to prolong these proceedings for several years. The contention that the documents were not given and that the appellants did not have the benefit of the documents on which the assessment order was made is unfounded. Firstly, there was a survey on 13.02.1992 under Section 133A of the Act. Photocopies of four documents were taken. The documents were not seized. The record remained with the appellants. Four documents were put to the appellants. The appellants had the benefit of the documents including the originals thereof which remained with the appellants. The appellants' books of accounts were also co-related with the returns filed. Discrepancies were found. The ....