KAVERI ASSOCIATES Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is an appeal by the assessee under section 260 -A of the Income Tax Act, 1961 [for short 'the Act'] against the order of the Tribunal dated 23.09.2010 and on the premise that the Tribunal has committed errors and illegalities in dismissing the appeal of the assessee.

(2.) THE assessee - appellant is a partnership firm said to have been constituted on 10.3.1996 in the name and style of M/s. Kaveri Associates and has been continued thereafter, with change of composition of partners, but under the same name and style and the questions raised for examination in this appeal arose for the period relating to assessment year 1999 -2000.

(3.) NOTICE had been issued to the respondent ­ revenue regarding admission of the appeal on 18.4.2011 and thereafter on the appearance of learned standing counsel for the revenue; appearing for the respondent, had been directed to produce original records including the statement recorded pertaining to Mr. Rathanlal K Jain - a person who is said to have given certain amount by way of credit to the assessee - firm.