RAVINDRA Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) HEARD learned Counsel for the parties for final disposal.

(2.) THE petitioner/assessee is aggrieved against the order dt. 31st Jan., 2007 passed by the CIT -II, Indore under Section 264 of the Income -tax Act, 1961 (hereinafter referred to as 'Act').

(3.) PROCEEDINGS under Section 147 of the Act were initiated and a show -cause notice was issued to the petitioner/assessee, which was served upon him on 7th Nov., 2003. Assessment proceedings were completed under Section 147 on 13th May, 2004 at the total income of Rs. 5,21,785, as declared by the assessee, while the relief claimed under Section 89(1) was declined and was withdrawn.