COMMISSIONER OF INCOME TAX-24 Vs. EAGLE IMPEX

JUDGEMENT

(1.) This Appeal under Sec. 260 -A of the Income Tax Act, 1961 (the Act), challenges the order dated 22nd February, 2013 passed by the Income Tax Appellate Tribunal (the Tribunal) for the Assessment Year 2003 -04.

(2.) The Revenue urges the following question of law for our consideration: -

(3.) The Respondent -Assessee is engaged in the business of manufacturing/ trading and export of Stainless Steel cutlery. In the original Assessment Order dated 27th March, 2006 passed under Sec. 143(3) of the Act, the Assessing Office disallowed the purchase to the tune of Rs. 82.84 lakhs on the ground that the Respondent -Assessee had failed to produce the parties and the Inspector deputed could not locate the parties. On further appeal, the CIT(A) while upholding the order of the Assessing Officer did not accept the additional evidence sought to be filed by the Respondent -Assessee.