1996 (11) TMI 33

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.... individual and gets concerned with the assessment year 1984-85 and that too with regard to the order of the Income-tax Appellate Tribunal dated December 29, 1992, in Miscellaneous Petition No. 16 (Coch.) of 1992. The question awaiting our answer is as follows : " Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that there was no mistake appar....

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....tual matrix is as follows : The assessment proceedings for the assessment years 1983-84 and 1984-85 travelled together. The proceedings for 1983-84 related to the credit entry of Rs. 7,60,276 in the name of the assessee in Account No. 4823 of the Federal Bank Ltd., Quilon. The proceedings for the assessment year 1984-85 also related to an entry of Rs. 47,422 and that too in the name of the asse....

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....76, which was treated as unexplained, the Tribunal has accepted the explanation of the assessee in regard thereto. The explanation was through the letter dated March 8, 1986, to the effect that this amount represented the peak credit found in the business by name D. K. B and Co., which is a leading abkari contractor in the district. The explanation further added that the assessee's mother Ponnamma....

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....Tribunal for the assessment years 1983-84 and 1984-85 are irreconcilable and are required to be corrected because irreconcilability is an error apparent on the face of the record. The Tribunal has referred the question as arising out of the decision in dismissing the said miscellaneous petition. Our discussion hitherto would show that the Income-tax Appellate Tribunal has not only dealt with th....