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Commissioner Of Income-Tax vs Kanda Rice Mills on 1 February, 1989

3. On appeal of the assessee, the Tribunal set aside the order passed under Section 263 of the Act holding that after criticism of the order of the Assessing Officer, the Commissioner did not reach any firm conclusion about evasion of tax which was condition precedent for exercise of power as per law laid down by Hon'ble Supreme Court in Malabar Industrial Corporation Ltd. Vs. CIT 243 ITR 83 (SC) and a judgment of this Court in CIT Vs. Kanda Rice Mills 178 ITR 446 (P&H).
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