1991 (6) TMI 45

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.... "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is right in law in holding that the Commissioner of Income-tax was not justified in invoking his powers under section 263 of the Income-tax Act, 1961, with reference to the material which came on record very much later than the making of the assessment for the assessment year 1975-76 in either case, that is, the d....

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....ibunal went into the question elaborately and found that the Commissioner was not justified in relying on materials which were not there before the assessing authority at the time when the assessment was made. The said view of the Appellate Tribunal is supported by the ruling of the Calcutta High Court in Ganga Properties v. ITO [1979] 118 ITR 447. The said finding as such has not been challenged....