K.D.RANJAN, N.K.KARHAIL
Income-tax Officer, Ward 31(4), New Delhi – Appellant
Versus
Vinod Chhabra – Respondent
K.D. Ranjan, Accountant Member. - This appeal filed by the revenue for assessment year 2001-02 arises out of order of CIT(A) - XXVI, New Delhi.
2. In this case the appeal was fixed for the first time on 18-12-2006. None was present on behalf of the assessee. The case was again fixed for hearing on 9-2-2007. On this date the hearing was adjourned to 5-7-2007 at the request of the counsel of the assessee. On this date none attended on behalf of the assessee and, therefore, notice for hearing was issued fixing the case for hearing on 6-9-2007. The assessee again sought adjournment and the case was adjourned to 25-10-2007. On this date none attended on behalf of the assessee nor was any application for adjournment received. From the conduct of assessee it is clear that the assessee is seeking adjournment to avoid the prosecution of the appeal to take place. Therefore, the appeal is decided on merits after hearing the ld. DR.
3. The first issue for consideration relates to allowing exemption under section 10B. The facts of the case as stated in brief are that the assessee derives income from 100 per cent Export Oriented Unit (EOU). During the year under consideration, the assessee cl
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