ARUN TREHAN Vs. PRINCIPAL COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) This order shall dispose of I.T.A. Nos. 240 of 2016 and 449 of 2015 as according to the learned counsel for the parties, the issue involved in both these appeals is identical. However, the facts are being extracted from I.T.A. No. 240 of 2016.

(2.) I.T.A. No. 240 of 2016 has been filed by the appellant-assessee under Sec. 260A of the Income-tax Act, 1961 (in short, "the Act") against the order dated March 21, 2016, annexure A. 3 passed by the Income-tax Appellate Tribunal, Chandigarh Bench (in short, "the Tribunal") in I.T.A. No. 9/Chd/2016, for the assessment year 2011-12.

(3.) The appeal was admitted on September 15, 2016 to consider the following substantial questions of law: