(1.) Regard being had to the similitude in the controversy involved in the present cases, the writ petitions were analogously heard and by a common order, they are being disposed of by this Court. Facts of I.T.A.No.140/2016 are narrated hereunder.
(2.) The present appeal has been filed under Sec. 260-A of the Income Tax Act, 1961 against the consolidated order dtd. 17/05/2016.
(3.) The brief facts of the case reveal that the assessee, who is an individual and is engaged in trading of bullion commodity, was subjected to scrutiny assessment and the same was completed under Sec. 153-A read with Sec. 143(3) of the Income Tax Act, 1961 on 28/03/2213. The total income was assessed as Rs.27,90,33,030.00.