THE COMMISSIONER OF INCOME TAX Vs. SUNIL AGGARWAL

JUDGEMENT

(1.) This is an appeal by the Revenue against the order dated 8th August 2002 passed by the Income Tax Appellate Tribunal ("ITAT") in ITA No. 157/Del/97 for the block period 1st April 1986 to 20th June 1996.

(2.) In the present appeal, the Respondent, despite service did not enter appearance and the case has proceeded ex parte. By order dated 7th February 2005, the following two questions were framed by the Court for consideration:

(3.) The background to the present appeal is that the Respondent Assessee is engaged in the business of plastic raw material and is carrying on the business in the names of two proprietorship concerns, M/s Polychem Traders and M/s Petrochem Overseas (India). In addition, the Assessee was a Director in Petro Impex (India) P. Ltd and Par Petrochem Ltd.