1. This appeal by the Assessee, Vinod Kumar Khatri, under Section 260A
of the Income Tax Act, 1961 (‘Act’) is directed against the impugned order
dated 28th September 2007 passed by the Income Tax Appellate Tribunal
(‘ITAT’) in ITA Nos. 764 & 2795/Del/2004 for the Assessment Year
2. The brief facts leading to the filing of the present appeal are that a search
was conducted in the premises of the Assessee on 17 th February 1992.
Thereafter, on 31st August 1992 the Assessee for the first time filed his
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original return of income for the AY 1992-93 declaring a total income of
Rs. 22,400. The said return was considered to be defective and incomplete.
Since the Assessee did not respond to intimation sent to him under Section
139 (9) of the Act, this return was lodged. Subsequently, in response to a
notice issued under Section 142 (1) of the Act, the Assessee filed his return
of income on 19th January 1993 declaring again a total income of Rs.
22,400. This was accompanied by a computation of taxable income and
statement of affairs as on 31st March 1992 and an income and expenditure
account for the year ended on 31st March 1992.
Source: Indian Kanoon