- (1.) Leave granted.
(2.) These appeals by the assessee are directed against the judgment rendered by a division Bench of the Karnataka High Court in appeals purported to be under Section 260a of the Income Tax Act, 1961 (in short the 'act'). The appeals were filed by the revenue questioning correctness of certain conclusions arrived at by the Income-Tax appellate Tribunal, Bangalore Bench (in short the Tribunal') in appeals filed by the assessee as well as the revenue.
(3.) The dispute relates to the assessment year 1995-96. The relevant factual details have been noted in Civil Appeal No. 4232 of 2003 and other cases (M. Janardhan rao v. Joint Commissioner of Income tax etc. etc. ) disposed of today and are not repeated here. The assessee was described as A. O. P.-3 by the revenue authorities in the concerned assessment proceedings.;