Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 745 - HC - Income TaxMAT - book profit adjustments - Computation of setting off of unabsorbed depreciation - whether tribunal was right in directing AO to determine the depreciation or business loss of each year and to carry forward the lower of two for adjustment which will result in enhancement of assessment for which the Tribunal has no power? - Held that:- There is no error in the order passed by the Tribunal in remanding the matter for fresh consideration to the Assessing Officer. In any event, we have indicated in the preceding paragraphs that the Tribunal has no power under the Income Tax Act to enhance the assessment in an appeal. Equally, it cannot be done on an order of remand being passed by the Tribunal to the Assessing Officer. Therefore, we opine that it is sufficient to clarify the legal position as held by the Honble Supreme Court in Hukumchand Mills Ltd. [1966 (9) TMI 38 - SUPREME Court] and in MCORP Global (P) Ltd.[2009 (2) TMI 5 - SUPREME COURT] followed by the High Court of Gujarat in Fidelity Shares and Security Ltd., Vs. Deputy Commissioner of Income Tax case [2016 (6) TMI 898 - GUJARAT HIGH COURT]. The Assessing Officer, while reconsidering the matter on remand, should bear the above legal principle in mind and the assessee cannot be denied whatever benefit he has granted in the Assessment Order dated 28.02.2003.
|