(1.) This appeal under Section 260A of the Income-tax Act, 1961 ( Act ) is at the instance of an assessee and is directed against an order dated March 3, 2004 passed by the Income-tax Appellate Tribunal, C Bench, Kolkata in ITA No.867 (kol) of 2002 for the Assessment Year 1998-99, dismissing the appeal filed by the assessee against an order dated March 4, 2003 passed under Section 263 of the Act.
(2.) Being dissatisfied, the assessee has come up with the present appeal.
(3.) The facts giving rise to filing of the present appeal may be summarized thus: