TaxTMI 
TaxTMI 
2007 (6) TMI 140
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....-tax Appellate Tribunal in ITA No.989/Mds/2006 dated 24.11.2006, raising the following substantial questions of law. "(a) Whether on the facts and in the circumstances of the case, the Income Tax Tribunal is right in holding that the reassessment made under Section 147 is bad and deleting the addition of Rs.1,46,790/- towards unexplained investment in the construction of a commercial complex at S....
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....he assessment year 1996-97 and 1997-98, fixing the amount for the assessment year 1996-97, a notice under Section 148 of the Act was issued for reassessment. Pursuant to the same, the assessee filed returns on 28.10.2003 and thereafter, notice under Section 143(2) of the Act was issued. 3. The assessee also filed a letter requesting to consider the order of the Income Tax Tribunal an....
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....e facts and circumstances of the case and also in the light of the decision of the Hon'ble Apex Court, which was relied on by the Id. representative of the assessee, we find that the Assessing Officer has failed to exercise the powers conferred on him under Section 133(6) of the Act and/or under Section 142(2) of the I.T.Act. Further, the Assessing Officer has not pointed out any other mater....
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....g that the said order dated 31.12.2003 had become final, refused to apply the amendment to Section 142A, as nothing was contained in Section 142A in respect of amendment made on or before 30.9.2004 and whether such amendment had become final and concluded on or before that date. 6. However, the learned standing counsel for the revenue contends that the revenue has already....