2009 (12) TMI 7

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....Krishna,J. Hon'ble Subhash Chandra Nigam,J. This appeal under Section 260-A of the Income Tax Act has been filed against the order dated 27th March, 2000 passed by the Income Tax Appellate Tribunal (Bench 'A') Allahabad in I.T.A. No. 406 (Alld) of 1993. The assessee, a company, filed its return of income for the assessment year 1991-92 showing loss of Rs. 21,23,335/-. The return of income....

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...."(1) Whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal was correct in law in confirming the action of the Commissioner of Income Tax (Appeals) in quashing the additional tax of Rs.62,815/- levied under Section 143(1A) of the Income Tax Act, 1961 by the Assessing Officer? (2) Whether on the facts and in the circumstances of the case the Income Tax Appell....

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....no longer res-integra and has been set at rest by the authoritative pronouncement in the case of Assistant Commissioner of Income Tax Vs. J.K. Synthetics Ltd. (2001) 251 ITR 200 in favour of the Revenue. Shri Rakesh Kumar, learned counsel for the assessee could not dispute the above position of law. In this view of the matter, we find that the Tribunal was not justified in deleting the addition....