CIT Vs. PASANDIA STEELS PROFILES (P) LTD. GHAZIABAD

JUDGEMENT

(1.) HEARD Sri Shambhu Chopra, learned counsel for the appellant and Sri Rishi Raj Kapoor, learned counsel for the respondent. The appeal has been admitted on the following substantial questions of law:

(2.) THE dispute relates to the assessment year 1993 -94. The assessee, a Company was incorporated on 10th June, 1991. It took over industrial undertaking known as M/s Goel Udyog as a going concern w.e.f. 18th September, 1991. Earlier M/s Goel Udyog was proprietorship concern.

(3.) THE assessment order was challenged in appeal before C.I.T.(A) who allowed the appeal on 4th April, 1995. The department carried the matter further in appeal before the Income Tax Appellate Tribunal, Delhi Bench 'D' New Delhi (hereinafter referred to as 'the Act') and the Tribunal by the order under appeal has dismissed the appeal.