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2014 (1) TMI 1482 - ITAT MUMBAIDeduction of indexed cost of acquisition - Power of appellate authorities to consider the claim first time before them - Held that:- The AO refused to entertain the claim as the same has not been made by the assessee through filing of revised return - Decision in Goetze (India) Ltd. Vs. CIT [2006 (3) TMI 75 - SUPREME Court] followed - The appellate authorities have jurisdiction to consider the additional claim made for the first time before them - If the claim of the assessee on this issue is to be entertained by the Tribunal, an opportunity may be given to the A.O. to verify the same as neither the A.O. nor the ld. CIT(A) has examined this issue on merit - The issue has been restored for fresh adjduication.
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