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2020 (7) TMI 133 - HC - Income TaxTime limit for completion of assessment and reassessment u/s 153 - Fresh Order passed in remand proceedings - whether order passed by the assessing officer is beyond the period of limitation as prescribed under Section 153(2A)? - HELD THAT:- As perused the submissions of the assessee, the paper book etc. from which it could not derived whether the assessee has received from MPSEB an amount to the extent of 85% of the cost of the equipment. Therefore, obviously, the CITA) has accepted the arguments of the assessee of its face value. The various circumstances as existing in the instant case go to raise a lot of doubt in the entire transaction. One aspect that is absent in the instant case is the enquiry from the State Electricity Board with reference to the sale invoice raised on the assessee, the lease agreement entered into with the assessee payment of 20% of ₹ 4.93 Crores to the assessee and the answer to the question whether the assessee received 85% of ₹ 4.93 Crores or not. We are therefore, of the view that the matter requires reexamination at the level of the assessing officer. The order of remand has been issued with a view to give effect to the findings of the tribunal and neither the order of assessment has been set aside nor the assessing officer has been directed to carry out fresh assessment. Order passed by the tribunal is a remand on a limited issue as indicated in para 12 of the order. Therefore, the provisions of Section 153(3) of the Act apply to the fact situation of the case and the tribunal therefore, committed an error of law in holding that the order passed by the Commissioner of Income Tax (Appeals) was passed under Section 153(2A) of the Act. Substantial questions of law framed by bench of this court are answered in favour of revenue and against assessee.
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