COMMISSIONER OF INCOME TAX Vs. POOJA FORGE LTD

JUDGEMENT

(1.) This appeal by the Revenue under Section 260A of the Income Tax Act, 1961 ('Act') is against an order dated 19th December 2000 passed by the Income Tax Appellate Tribunal ('ITAT') in ITA No. 5556 (Del)/96 for the block period 1986-87 to 1996-97.

(2.) The Assessee is engaged in the manufacture and trading of high tensile fasteners. A search and seizure operation was conducted on 29th September 1995 on the Assessee and other group companies. On the basis of the material seized during the search, proceedings were initiated by the issue of notice to the Assessee under Section 158BC of the Act on 11th January 1996.

(3.) The Assessing Officer ('AO') made the following additions in the block assessment order dated 27th September 1996: