2007 (10) TMI 718

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....rieved by an order dated 4th August, 2006 passed by the Income Tax Appellate Tribunal (`the Tribunal') in ITA No. 1565/Del/2001 relevant for the Assessment Year 1996-1997. The Assessee had declared his income as Rs. 1,88,46,970/-, which includes a capital gain of Rs. 1,83,33,275/-. The return was processed by the Assessing Officer, who accepted the income shown by the Assessee. Subsequently, ....

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....on and accordingly passed an order under Section 154 of the Act. Feeling aggrieved, the Assessee preferred an appeal before the Commissioner of Income Tax (Appeals) [CIT(A)]. The appeal was allowed on the ground that dis-allowance was beyond the scope of rectification permissible under Section 154 of the Act. The Revenue then preferred an appeal before the Tribunal and that is how the matter is ....