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2014 (6) TMI 142 - AT - Income TaxAddition of Transfer Fees and TDR premium – power of appellate commission to accept fresh claim being revised computation - Held that:- Even if a claim is not made before the AO it can be made before the appellate authorities - The jurisdiction of the appellate authorities to entertain such a claim is not barred –Relying upon Jute Corporation of India Limited vs. CIT [1990 (9) TMI 6 - SUPREME Court] - the power of the Appellate Commissioner is coterminous with that of the Income Tax Office and an appellate authority while hearing appeal against the order of the subordinate authority has all the powers which the original authority may have in deciding the questions before it subject to the restrictions or limitations if any prescribed by statutory provisions. In the absence of any statutory provision the appellate authority is vested with all the plenary powers which the subordinate authority may have in the matter. Revised Computation not accepted on wrong appreciation of facts – Held that:- CIT(A) failed to exercise his appellate jurisdiction u/s 250 of the Act – Relying upon Smt. Prabhavati S. Shah v. CIT [1998 (2) TMI 107 - BOMBAY High Court] - the powers conferred on the first appellate authority u/s 250(4) of the Act, being a quasi-judicial power, it is incumbent on him to exercise the same, if the facts and circumstances justify - though the discretion is vested with the appellate authorities to admit or reject the new/additional claim but the discretion in that regard is to be exercised fairly and justifiably so as to serve the interest of justice – thus, the matter is remitted back to the Tribunal for fresh adjudication – Decided in favour of Assessee.
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