2002 (6) TMI 37

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..... 001. The assessment year involved is 1985-86. The first assessment was made just as two years were running out, but that is not unusual. An appeal from the said order succeeded and the matter was remanded for a fresh assessment. Such an assessment was made and it was again taken up to the Commissioner of Income-tax (Appeals), and the appeal succeeded. The issue involved from the very begin .....

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..... section 69B, in case the valuation return is found to be less than what is acceptable, the underestimated investment turns into assessable income which is not appropriately returned by the assessee himself. From the second successful Departmental appeal of the assessee, the Income-tax Appellate Tribunal was approached by the Department; it has ultimately opined that, considering both sides of t .....

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