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2015 (3) TMI 1205 - SC - Income TaxRevision u/s 263 - High Court [2014 (4) TMI 1141 - CALCUTTA HIGH COURT] has reversed the decision of Tribunal whereby it had allowed the appeal preferred by the assessee against the judgment and order passed by the Commissioner of Income Tax who, in exercise of its power under Section 263 - Held that:- On a careful scrutiny of the order, we find that no substantial question of law was framed. When the judgment and order passed by the tribunal was reversed, we are disposed to think, it was incumbent on the part of the High Court to frame substantial questions of law and thereafter proceed with the matter. That having not been done, we set aside the judgment and order passed by the High Court and remit the matter to the High Court to proceed in accordance with law. In the result, the appeal is allowed and the judgment and order passed by the High Court are set aside and the matter is remitted to the High Court for appropriate decision in accordance with law.
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