ITA NO.2405/KB OF 1992-93 versus ITA NO.2405/KB OF 1992-93
Section 132 Appeal Returns Appeal Increase Appraisal Appellate Assistant Commissioner / Commissioner of Income Tax (Appeal) has been authorized to increase this appraisal and refuse to allow the appeal to be withdrawn. The Income Tax Commissioner (Appeals) refused to allow the appeal to be withdrawn for the simple reason that it was a matter of increasing the valuation and that the assessment was enhanced without any basis for applying the gross profit rate. No parallel case was presented: Essex was never competing with any parallel issue and had no history of applying the gross profit rate. The increase in revenue, using the gross profit rate, was not for any reason and can only be said because arbitrary increase fact was not sustainable in fact and law and consequently with the permission of the arbitrator to withdraw the appeal. Was denied and used incorrectly. The order for the Income Tax Commissioner (Appeals) not to be sustainable in law was vacated and it was further held that the first appeal should be dismissed and rejected.
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