Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (3) TMI 1415 - AT - Income TaxDisallowance retention money as well as on licence fee - case of the assessee was picked up for scrutiny assessment and the assessment u/s.143(3) r.w.s.254 was framed - CIT-A deleted the addition - HELD THAT:- As decided in NARAN LALA PVT. LTD. VERSUS THE D.C.I.T., NAVSARI CIRCLE, NAVSARI AND VICE-VERSA [2011 (6) TMI 1019 - ITAT AHMEDABAD] complete facts of the case were not examined and verified including the amount if any incurred by the assessee for business purpose out of the retention amount. After passing of the impugned orders, there is a change on the matter in issue and the points have now been decided in favour of the assessee which is also not disputed by the learned DR. However, the authorities below have no occasion to examine the facts of the case in the light of the above decisions cited by the learned Counsel for the assessee. Both the parties agreed that the matter may be remanded to the file of the AO for reconsideration of the issue in the light of the decision delivered by the Hon'ble Punjab & Haryana High Court [2009 (11) TMI 995 - PUNJAB AND HARYANA HIGH COURT] and the Hon'ble Supreme Court (2009 (5) TMI 16 - SUPREME COURT). We find force in the submissions of both the parties that the matter requires reconsideration in the light of the above decisions. Thus the issue is restored back to the file of AO to decide the same - Appeal of the Revenue is allowed for statistical purposes.
|