TaxTMI 
TaxTMI 
2014 (2) TMI 1199
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....llant. Mr.S.M.Godsay, Advocate for respondent PER COURT : 1. In this group of appeals, it is submitted that the question of law is a substantial one and namely that the material removed and without accounting for is subject matter of proceedings under The Central Excise Act, 1944. So long as the proceedings there are pending, this Court should permit the department in this case to await the ....
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....equent upon the search action, the Assessing Officer initiated proceedings u/s 153A of the Income Tax Act, 1961. During ( 4 ) Tax Appeal No.30 of 2011 and others assessment proceedings, the Assessing Officer has observed that the Assessee / Company has consistently incurred losses. Hence the books of accounts submitted by the Assessee during the assessment proceedings and those seized in CD forma....
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....g material was found relating to the said years, which could have been added in the proceedings u/s 153A. The details regarding the consumption of electricity for the production for each of the year under consideration was placed before the Authorities in the Director's Report of each year. The same has not been disputed by the Revenue. The Tax Audit Report also contains the unit production of eac....