Per Ahmad Fareed, Accountant Member. - This appeal, by the assessee is directed against the order of the CIT(A) dated 29-1-1999 for assessment year 1995-96.

2. The assessee is a public limited company engaged in the business of manufacture and sale of sugar and industrial and potable alcohol. The return for assessment year 1995-96 was filed on 30-11-1995 showing total income of Rs. 6,74,05,020 which was processed under section 143(1)(a) of the Act on 25-7-1996. The case was later picked up for detailed scrutiny by issue of notice under section 142(1) of the Act on 9-1-1998. In the assessment order passed by the Assessing Officer under section 143(3) of the Act on 27-3-1998 the total income was assessed at Rs. 9,75,35,767. In this order, the Assessing Officer inter alia made additions of Rs. 1,47,34,417, Rs. 58,61,651, Rs. 1,57,51,180 (Rs. 2,08,98,653 - Rs. 51,47,473) on account of excess collection of levy sugar price and interest thereon under section 41(1) of the Act.

3. The CIT(A) confirmed the Assessing Officer’s action and his order has challenged by the assessee in the present appeal.

4. The grounds of appeal filed with Form No. 36 were subsequently revised/concised.

Ground