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T.V.K.NATARAJA CHANDRAN, G.CHOWDHURY
Kanyakumari District Co-op. Milk Supply Producers Union Ltd. – Appellant
Versus
Income-tax Officer – Respondent
Per Chowdhury, J.M. - These appeals by the assessee relating to the assessment years 1983-84 to 1985-86 arise out of the common order of the Commissioner of Income-tax, Madurai dated 16-3-1989 passed under section 263 of the Income-tax Act, 1961. Since a common point is involved in these appeals, they are heard together and are disposed of by a consolidated order for the sake of convenience.
2. The assessee is a co-operative society carrying on the business of purchase and sale of milk. At the time of assessments the assessee claimed investment allowance on machineries used for pasteurising the milk, which was allowed by the Assessing Officer during the relevant assessment years. On a perusal of the assessment orders for the assessment years under consideration the Commissioner of Income-tax found that those orders were erroneous and prejudicial to the interests of Revenue as the allowance of investment allowance under section 32A as claimed by the assessee was not justified. Accordingly the Commissioner issued a show-cause notice under section 263 dated 12-1-1989 to the assessee calling upon the assessee to explain as to why an order enhancing or modifying the assessments or c
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