DEPUTY COMMISSIONER OF INCOME TAX Vs. PENDURTHI CHANDRASEKHAR

JUDGEMENT

(1.) This is an appeal filed by the assessee under Section 260A of the Income Tax, 1961, challenging an order of the Income Tax Appellate Tribunal in I.T.A.No.2119/H/2011 relating to the Assessment Year 2005-2006.

(2.) Though the appellant raised about 10 substantial questions of law at the time of filing of the appeal, he came up with a Memo subsequently seeking to reframe the questions of law. Accepting the Memo filed, the following substantial questions of law were framed as arising for consideration in this appeal.

(3.) Heard Mr. K. Vasanthakumar, learned counsel for the appellant and Smt. M. Kiranmayee, learned Senior Standing Counsel for the Revenue. Facts leading to the present appeal: