TMI Blog2015 (9) TMI 227X X X X Extracts X X X X X X X X Extracts X X X X ..... deducted because it was not deductible - ITAT allowed assessee appeal - Held that:- Some amount of exercise in order to find out whether the contention of the assessee was correct was required both on the part of the CIT(A) and the Tribunal, regard being had to the fact that they are the fact finding authorities. Surprisingly they did not think it necessary to do any such thing and proceeded to d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... P. Khaitan, Senior Advocate : for the respondent ORDER: The Court : Revenue has come up in appeal against a judgment and order dated 15th March, 2013 passed by the Appellate Tribunal dismissing an appeal preferred by the revenue. The facts and circumstances, briefly stated, are as follows: For the assessment year 2005-06 a notice under Section 148 of the Income Tax Act, hereinafter re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om the judgment and order dated 9th March, 2011 passed by the CIT(A) allowing the appeal of the assessee, it appears that the assessee contended that no tax was deductible at source for the following reasons: The holding company is utilizing the money on account of the back-to- back loan availed by BCL. In other words, due to the restructuring of the company from time to time and as BIL has st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal by its judgment and order dated 15th March, 2013 without going into the contention of the assessee, indicated above, endorsed the views taken by the CIT(A). In the circumstances, the revenue has come up in appeal before this Court. Whether the power under Section 148 was exercised by the Assessing Officer due to any change of opinion or the income had really escaped assessment was ess ..... X X X X Extracts X X X X X X X X Extracts X X X X
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