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O.N.TRIPATHI, L.N.AGGARWAL
Swadeshi Cotton Mills Co. Ltd. – Appellant
Versus
Income-tax Officer – Respondent
Per L.N. Aggarwal, J.M. - It is an appeal filed by the assessee against an order of the learned CIT (Appeals) dated 26-2-1990 for the assessment year 1974-75. The following grounds have been taken:-
1. (i) For that order dated 26-2-1990 passed by the learned Commissioner of Income-tax (Appeals), Kanpur is contrary to facts, erroneous in law, without jurisdiction and barred by limitation.
(ii) For that on the facts and in the circumstances of the case the learned CIT (Appeals) should have held that the assessment order under section 144 dated 10-11-1989 was barred by limitation and as such he should have quashed the aforesaid assessment order.
2. For that the appellant creaves leave to take, add and/or amend any further ground(s) of appeal before or at the time of bearing of this appeal.
2. The brief facts of the case are that the original return in this case was filed at an income of Rs. 55,82,360 on 6-12-1974 which is alleged to have been revised at an income of Rs. 53,60,580 on 22-3-1977. The ITO had passed an order under section 142(2A) on 22-1-1978 directing the assessee for compulsory audit. The assessee filed a writ petition in the Hon’ble High Court against the said order
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