SHIV NARAIN KHANNA Vs. COMMISSIONER OF INCOME-TAX

JUDGEMENT

(1.) THESE two applications (ITC No. 1 of 1974 and ITC No. 2 of 1974) arise out of the assessment proceedings and the consequent penalty proceedings of M/s. Shiv Narain Khanna.

(2.) THE authorities constituted under the Income-tax Act found that certain transactions were bogus.

(3.) BOTH the applications are, therefore, dismissed with costs.