1996 (5) TMI 20

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....1995, has been withdrawn and assessments relating to the periods 1990-91, 1991-92 and 1992-93 have been confirmed. As a result, it has been held that the "purchase price" will include excise duty for the purpose of section 44AC of the Income-tax Act, 1961. So far as the petitioner, Shambhu Prasad, is concerned, he has challenged the assessment orders dated March 1, 1993, and March 4, 1993, as well as notice of demand to that effect. By the aforesaid orders, assessments fore periods 1990-91 and 1991-92, the assessing authority has included excise duty within the "purchase price" for the purpose of section 44AC of the Income-tax Act. The orders passed by the Commissioner of Income-tax, Patna, dated February 16, 1996, confirming the aforesa....

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....sessment years and by all the three common impugned orders dated November 8, 1995, withdrew the earlier order dated March 1, 1995. In effect, he has confirmed the original orders of assessment passed earlier with respect to the three aforesaid assessment orders. By the impugned order dated November 8, 1995, it has been held that there was a mistake which was apparent from the record in the matter of computation of deemed income and thereby directed to include "excise duty" within "purchase price" for the purpose of section 206C of the Income-tax Act. With respect to Shambhu Prasad, the assessment orders have been issued on March 1, 1993, and March 4, 1993, with similar proposition, by including excise duty within "purchase price", for th....