2008 (9) TMI 114

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....No. 4222/2008 (condonation of delay) in I. T. A. No. 366/2008 1. For the reasons stated in the application and on submissions made by the learned counsel for the appellant, this application for condonation of delay is allowed. The delay is condoned. This application stands disposed of. I. T. A. No. 366/2008 2. This appeal pertains to the block assessment period April 1, 1989, to January 1....

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....table when the Assessing Officer passed his order on June 11, 2003, under section 154 of the said Act. Therefore, the Tribunal concluded that the rectification proceedings were not in order and consequently, dismissed the appeal preferred by the Revenue. 5. In so far as the issue on the merits is concerned, that has now been settled by the Supreme Court by its decision in the case of CIT v. Sur....

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....has concluded that the issue was certainly a debatable one. The same view has been expressed by the Tribunal and it is on the basis of this conclusion also that the Revenue's appeal preferred before the Tribunal, was dismissed. 7. Thus, although, on the merits, the issue now stands concluded in favour of the Revenue by virtue of the decision of the Supreme Court in Suresh N. Gupta [2008 297 ITR....