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2015 (5) TMI 1253 - AT - Income TaxEstimation of income - bogus purchases - HELD THAT:- We are not inclined to grant adjournment and inasmuch as before the Hon’ble High Court, whether the question of law has been admitted, stage of hearing and likelihood of time of decision has not been explained to us. It will be expedient that instead of mounting the pendency before ITAT and refixing these appeals again and again, the AO will take a view in this matter in consonance with the Hon’ble Rajasthan High Court’s judgment. It will avoid repeated fixation and unnecessary pendency before the ITAT inasmuch as the Hon’ble Rajasthan High Court judgment will be binding on all concerns. In view thereof, we reject the adjournment application. After hearing the ld DR, perusing the material available on the record, we set aside the matter back to the file of Assessing Officer to decide the same.
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