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TMI Blog2013 (11) TMI 574X X X X Extracts X X X X X X X X Extracts X X X X ..... . Tax Appeal No. 203/2013 is preferred by the revenue against the impugned judgment and order passed by the Income Tax Appellate Tribunal in ITA No. 84/2007 with respect to the Assessment Year 2003-04. 2.1 Tax Appeal No. 205/2013 is preferred by the revenue against the impugned judgment and order passed by the Income Tax Appellate Tribunal in ITA No. 1468/2007 with respect to the Assessment Year 2004-05. 2.2 Tax Appeal No. 206/2013 is preferred by the revenue against the impugned judgment and order passed by the Income Tax Appellate Tribunal in ITA No. 3578/2008 with respect to the Assessment Year 2005-06. 2.3 Tax Appeal No. 207/2013 is preferred by the revenue against the impugned judgment and order passed by the Income Tax Appellate Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oted that the contention on behalf of the assessee with respect to Section 37(1) of the Income Tax Act is an alternative submission, if their contention with respect to Section 35E is not accepted. 4. It is reported that question no. 2 i.e. disallowance of depreciation of sale and lease back assets has a direct connection with respect to question of law proposed by the revenue in their respective appeals i.e. Tax Appeal Nos. 203/2013, 205/2013, 206/2013 and 207/2013. 5. Shri S.N. Divetia, learned advocate appearing on behalf of the assessee in Tax Appeal Nos. 209/2013, 211/2013, 213/2013 and 215/2013 has vehemently submitted that the tribunal in the impugned order has noted that there has been no arguments under Section 35E of the Income ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the tribunal to consider the aforesaid questions, their appeals, being Tax Appeal Nos. 203/2013, 205/2013, 206/2013 and 207/2013, are also required to be remanded to the tribunal to consider the question of law with respect to excluding the principal sum of lease rent. 8. To the aforesaid Shri Divetia, learned advocate appearing on behalf of the assessee has stated at the bar that he has no objection if the appeals preferred by the revenue to consider the aforesaid questions are remanded to the tribunal. 9. Thus, there is a broad consensus between the learned advocates appearing on behalf of the respective parties i.e. the assessee and the revenue to remand the appeals to the Income Tax Appellate Tribunal to consider the aforesaid ques ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt Years 2003-04, 2004-05, 2005-06 and 2006-07 are hereby remanded to the Income Tax Appellate Tribunal to consider the following issues/questions; (i) disallowance under Section 35E / 37(1) of the Income Tax Act; (ii) disallowance of depreciation of sale and lease back and (iii) exclusion of the principal sum of lease rent. 13. The Income Tax Appellate Tribunal to consider the aforesaid appeals afresh with respect to the aforesaid issues in accordance with law and on its own merits and after giving an opportunity to the assessee as well as the revenue. However, it is observed that this Court has not expressed anything on merits with respect to the aforesaid issu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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