2008 (1) TMI 196

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..... 5. This appeal is filed against the order of the Income-tax Appellate Tribunal, Chennai, in I. T. A. No. 1898 of 2002 dated December 8, 2006. 2. The facts culled out from the statement of facts stated in the memorandum of appeal, are as follows 3. For the assessment year 1994-95, initial assessment was framed on March 30, 2000, in terms of section 143(3) of the Act on the total taxable income at .....

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..... rder was carried on appeal to the Commissioner of Income-tax (Appeals) without any success and the second appeal to the Tribunal also ended against the assessee. The correctness of the same is canvassed by filing this appeal framing the following questions of law: "1. Whether the Appellate Tribunal is correct in law in concluding that the assessment of three credits in terms of section 68 of the .....

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..... any deposit. In the case of M/s. Namasivayam Lining Works, Tuticorin also, the party denied the payment made towards share capital. In respect of the third party M/s. Ravi Petro Products, Karnool, notice sent by the Assessing Officer to the address given by the assessee was returned unserved. These three instances alone have been taken into account and the statutory authorities right from the Asse .....

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