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2014 (9) TMI 550 - HC - Income TaxMaintainability of petition - Rectification of order u/s 254(2) - Held that:- The Tribunal has not applied its mind to the merits which are now sought to be canvassed in questions, which have been formulated in support of the appeal by the assessee - The only point which weighed with the Tribunal was that once the post-acquisition assets were shown at ₹ 567.62 crores, there was no basis for enhancing the value to ₹ 575.05 crores in the revised return - the issues which have been raised on behalf of the assessee as well as the submissions which have been urged on behalf of the Revenue would merit a primary determination by the Tribunal and it would not be appropriate or proper for the Court to express a finding in the absence of a considered decision of the Tribunal - the questions of law which have been raised on behalf of the assessee would require consideration by the Tribunal - The Tribunal has not made any finding on the merits of the issues which are sought to be raised in the appeal - Revenue rightly contended that it would not be appropriate and proper to express a determination on the issues raised in the absence of a finding thereof by the Tribunal – thus, the matter is to be remitted back to the Tribunal for fresh adjudication – Decided in favour of assessee.
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