Assessment of earlier year cannot be reopened on the basis of persuasive finding in subsequent years

HIGH COURT OF ALLAHABAD Commissioner of Income-tax Versus Kanodia & Sons IT APPEAL NO. 365 OF 2009 DECEMBER 6, 2012 ORDER 1. The present appeal has been filed under Section 260-A of the Income Tax Act, 1961, hereinafter referred to as “the Act”, against the order dated 31.3.2005 passed by the Income Tax Appellate Tribunal, Lucknow Bench Lucknow. The Department has proposed the following substantial questions of law said to be arising out of the Tribunal’s order.: “1.  Whether the Income Tax Appellate Tribunal was justified in law in dismissing the...