TORRENT LABORATORIES LTD. Vs. DY. C.I.T.

JUDGEMENT

(1.) By way of this appeal, the appellant-assessee has challenged the order dated 30.09.2002 passed by the Income Tax Appellate Tribunal, Ahmedabad [for short "the ITAT"] in ITA No. 1191/Ahd/96.

(2.) While admitting this appeal, the Court had formulated the following substantial questions of law:--

(3.) The facts in brief are that on 31.12.1992 the assessee had filed its return of income, declaring total income of Rs. 1,08,97,673/- for the assessment year 1992-93. The Assessing Officer passed order under Section 143(1)(a) of the Income Tax Act. Against the said order, the assessee filed an appeal before the CIT(Appeal). The CIT(A) vide 10.1.1996 partly allowed the said appeal. Being aggrieved by the same, the assessee filed an appeal before the ITAT. The Tribunal vide its order dated 30.09.2002 dismissed the appeal of the assessee. Hence, this appeal.