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2019 (10) TMI 925 - BOMBAY HIGH COURTRedemption fine allowable as business expenditure u/s 37 - review petition is argued principally on the ground that the additions made by the assessing officer in the hands of the assessee were under Section 69C - HELD THAT:- The evidence necessary to examine this alternative contention was on record. However, the Tribunal had not carried out proper fact finding inquiries and therefore, the entire issue should be placed before the Tribunal for fresh consideration. It is also argued that the ratio of the decision in the case of Haji Aziz & Abdul Shakoor Bros. Vs. CIT [1960 (11) TMI 15 - SUPREME COURT] would dilute in view of the addition of explanation to Section 37(1) of the Act. No reason to entertain this review petition. Firstly, it is always open for an assessee to raise an alternate contention and if such contention is purely one of law, also at appellate stage. However, the assessee must either rely on the facts already brought on record or within the permissible limits, request the appellate Commissioner or the Tribunal to permit additional evidence to be brought on record. Thus, in the judgment in question having examined all aspects of the matter, there is no need to remand the appeal before the Tribunal. Further, the implications of the judgment of the Supreme Court in case of Haji Aziz (supra) in the light of further development of law has been examined in the said decision before arriving at final conclusions. This has not come for review. In the result, review petition is dismissed.
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