COMMNR OF INCOME TAX Vs. RAJIV BHATARA

JUDGEMENT

(1.) Leave granted.

(2.) Challenge in this appeal is to the judgment of a Division Bench of the Punjab and Haryana High Court dismissing the appeal filed under Section 260A of Income Tax Act, 1961 (in short the 'Act'). In the said appeal, challenge was to the order dated 01.7.2006 passed by the Income Tax Appellate Tribunal Amritsar Bench, Amritsar (in short the 'Tribunal'). The dispute related to the block period 1.4.1990 to 3.7.2000. The question which arose for consideration is as follows:

(3.) Factual position in a nutshell reads as follows: