COMMISSIONER OF INCOME TAX Vs. SAI METAL WORKS

JUDGEMENT

(1.) THIS order will dispose of ITA Nos. 125, 127 and 128 of 2004, as it is stated that question of law involved in these appeals is common.

(2.) IT Appeal No. 125 of 2004 has been preferred by the Revenue under S. 260A of the IT Act, 1961 (hereinafter referred to as "the Act") against order dt. 23rd Sept., 2003 passed by the Tribunal, Amritsar Bench, Amritsar in IT(SS)A No. 3/Asr/2003, for the block period 1st April, 1990 to 6th April, 2000, claiming following substantial question of law :

(3.) THE CIT(A) set aside the addition which view has been upheld by the Tribunal. It was held that S. 40A (3) could not be invoked in the case of the assessee where block assessment was by estimate on the basis of GP rate. The finding recorded by the Tribunal is as under :