2003 (4) TMI 15

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.... questions: "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that Circular No.648, dated March 30,1993, issued by the Central Board of Direct Taxes would be applicable in the case of the appellant for the relevant assessment year 1989-90 irrespective of the fact that the circular was not in existence when the return was filed on January 29,19....

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....crutiny by the Department and notice under section 143(2) was issued. In response to the notice and as required by the Assessing Officer, necessary details required were filed and placed on record, which were discussed and the expenses on commission was allowed only at Rs. 30,000 taking Rs. 60,000 for allowances under the circular. In appeal, the Commissioner of Income-tax (Appeals) has taken t....

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....relevant, as the commission income of the assessee exceeds Rs. 60,000, therefore, even that circular has also no application, therefore, his commission income should be assessed in view of the provisions of the Income-tax Act, 1961. Ms. Parinitoo Jain, learned counsel for the respondents, has not controverted this fact that the circular dated March 30,1993, has no application in the year 1989-9....

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....ncome should be assessed and taxed in the hands of the assessee in accordance with the provisions of the Income-tax Act. Learned counsel for the assessee submits that all the required details for taxing the income were submitted before the Assessing Officer. But Ms. Parinitoo Jain submits that the assessee has not maintained books of account nor the required details were furnished. In appeal....