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2010 (12) TMI 838 - AT - Income TaxErroneous decision - We have gone through the order of Tribunal minutely and found nowhere the comments in respect to detailed finding given by learned CIT(A). At one or two points the Tribunal has observed that learned CIT(A) was not correct in holding that provisions of s. 145(3) are not applicable. How the learned CIT(A) is not correct, no finding has been given by the Tribunal. Regarding the GP rate also, the Tribunal has observed that order of the AO seems to be correct. However, regarding the finding of learned CIT(A), the only observation that "the learned CIT(A), in our considered view, was not justified in accepting the trading result declared by the assessee". How the trading result accepted by the learned CIT(A) are not correct, no finding or discussion has been made by the Tribunal. - a mistake has been crept in the order of the Tribunal by not taking into consideration the vital aspect of the case and various case laws - the order of the Tribunal is recalled in toto to decide the same afresh after hearing both the parties afresh.
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