Abzony Safety Glass Ltd v. Commissioner Of Income Tax

ITA No. 449 of 2010 (O&M) IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ITA No. 449 of 2010 (O&M)Date of Decision: 20.9.2010 Abzony Safety Glass Ltd. Versus Commissioner of Income Tax ....Appellant. ...Respondent. CORAM:-HON'BLE MR. JUSTICE ADARSH KUMAR GOEL.HON'BLE MR. JUSTICE AJAY KUMAR MITTAL. PRESENT: Mr. Pankaj Jain, Advocate for the appellant. AJAY KUMAR MITTAL, J. 1.Heard. Delay in refiling condoned. 2.This appeal has been preferred by the assessee underSection 260A of the Income Tax Act, 1961 against the order dated29.5.2009 passed by the Income Tax Appellate Tribunal, ChandigarhBench “A”, Chandigarh in ITA No. 331/CHANDI/2009 for theassessment year 2002-03, proposing following substantial questions oflaw:- “i)Whether on the true and correct interpretationof the provisions of section 249, 250 of the Actthe decision of CIT (A) on merits can beinterpreted as a “satisfaction for an admissionof an appeal” filed beyond the period prescribed? ii) Whether Tribunal is right in law by notassigning any reason to the pleadings raised inpursuance to the grounds of appeal? iii) Whether the assessment framed u/s 144 r.w.s.153A is valid and legal when the requiredinformation to form 'reason to believe' u/s 132of the Act is lacking? iv) Whether on the true and correct interpretationsof the provisions of section 254 of the ActTribunal has the powers for interpretingadversely the order u/s 250 of the Act?Whether on the facts and circumstances of the v) case Tribunal order is sustainable sincemaking contradictory decisions in the hands ofdifferent persons qua the same material fordelay hence perverse in nature? vi) Whether on the facts and circumstances of thecase assessment order is sustainable sincedisallowance of business loss and additions onaccount of unexplained investment in sharecapital money and unexplained bank depositsare based upon surmises and conjecture sincevery well explainable?” 2.Learned counsel for the appellant fairly states that similarmatter has been decided against the assessee by order dated 7.9.2010 ITA No. 449 of 2010 (O&M) -3- passed in ITA No. 270 of 2010 (Abzony Safety Glass Ltd. v. Commission of Income Tax, Chandigarh). 3.Accordingly, the present appeal is dismissed. (AJAY KUMAR MITTAL) JUDGE September 20, 2010gbs (ADARSH KUMAR GOEL)JUDGE