SHRI SHANTILAL JAIN,,MUMBAI vs. THE INCOME TAX OFFICER, WARD-2,, BHUJ

In the result the appeal of the assessee is partly allowed

Bench: Shri Rajpal Yadav & Shri Waseem Ahmedआयकर अपील सं./I.T.A. No.1063/Rjt/2009 ("नधा"रण वष" / Assessment Year : 2002-03) बनाम/ Shri Shantilal Jain, I.T.O, 41, Usha, Ward-2, Vs. 161, S.V.Road, Bhuj. Vile Parle(West) Mumbai. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaepj8434B (अपीलाथ" /Appellant) (""यथ" / Respondent) .. अपीलाथ" ओर से / Appellant By : Shri Vimal Desai, A.R ""यथ" क" ओर से/Respondent By : Shri Anil Kumar, Sr. D.R सुनवाई क" तार"ख / Date Of Hearing 19/09/2019 घोषणा क" तार"ख /Date Of Pronouncement 10/12/2019 आदेश / O R D E R Per Waseem Ahmed: The Captioned Appeal Has Been Filed At The Instance Of The Assessee Against The Order Of The Learned Commissioner Of Income Tax (Appeals)- Ii, Rajkot [Ld. Cit(A) In Short] Dated 02/09/2009, Arising In The Matter Of Assessment Order Passed Under S. 143(3) R.W.S 147 Of The Income Tax Act, 1961 (Hereinafter Referred To As "The Act") Dated 29/12/2006 Relevant To Assessment Years (A.Y.) 2002-03. A.Y. 2002-03 The Assessee Has Raised The Following Grounds Of Appeal:

Charitable Trust, Mumbai, 41, Usha, 161, SC Road, Ville Parle, (West), Mumbai. 10. Shivam Development Trust, I 1, Saptmesh Complex, Pareshwar Chowk, Bhuj, Kutchch. 3. However, the DRI found that the impugned group of persons was involved in diverting the imported rags clothes materials in the open market in contravention to the provisions of the notification bearing no. 7/2001 issued