K.J. Sengupta, J.

1. THE Judgment of the Court was as follows: THE above appeal was preferred by the appellant against the judgment and order dated 10th February 2006 passed by the Income Tax Appellate Tribunal (D) Bench, Calcutta in ITA (SS) No. 185 Col/ 2004 in the block assessment years 1996-97 to 2001 -02 in so far as the same relate to reconsideration of taxability or otherwise of the sum of Rs. 254,32,93,100 received by the appellant on March 1, 2006. Thus it appears that the appeal is preferred against portion of the judgment and order of the leaned Tribunal by which five several appeals were disposed of. One of the appeals being ITA (SS) 161/Col./2004 was preferred against the order of the Commissioner of Income Tax passed under section 263 of Income Tax Act, 1961, dated 27th November 2006. Above appeal was admitted on the following formulated question of law:

"Whether the learned Tribunal was justified in law in holding that the twin conditions for exercise of the power under section 263 of the Income Tax Act, 1961, in respect of the block assessment order dated November 29, 2002 were satisfied and its purported findings upholding the order of the Commissioner of th