HAZARI LAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS appeal under s. 260A of the IT Act, 1961 (for short "the Act") has been filed by the assessee against the order dt.

(2.) THE assessee has claimed the following substantial questions of law for determination by this Court :

(3.) IN brief, the facts necessary for adjudication as narrated in the appeal are that the assessee is engaged in the business of commission agency for purchase and sale of vehicles and having the interest limited to the extent of 132(1) of the Act, and pursuant thereto a notice under s. 158BC was served on him. Assessment was framed vide order counts, but the assessee disputed only the addition on account of estimation of income for the asst. yrs. 1997 -98, 1998 - Annex. A -1, the assessee filed appeal before the Commissioner of Income -tax (Appeal), [hereinafter referred to as "CIT