(1.) This appeal under Sec. 260A of the Income Tax Act, 1961 (Act) impeaches the order dated 16.06.2016 passed by the Income Tax Appellate Tribunal, Nagpur (Tribunal). The impugned order relates to assessment for block period 01.04.1990 to 04.08.2000.
(2.) This appeal was admitted on 23.10.2007 on the following substantial question of law:-
(3.) Briefly, the facts leading to this appeal are as follows:-