TMI Blog2005 (7) TMI 71X X X X Extracts X X X X X X X X Extracts X X X X ..... x Appellate Tribunal shows that there was no finding of the Tribunal that any deduction or allowance was made in the assessment of the assessee in an earlier year. In the circumstances, we set aside the impugned order of the Tribunal and remand the matter to the Tribunal for a fresh decision in accordance with law – appeal is allowed - - - - - Dated:- 11-7-2005 - Judge(s) : MARKANDEY KATJU., F. M. IBRAHIM KALIFULLA. JUDGMENT The judgment of the court was delivered by Markandey Katju C.J.- This is an appeal under section 260A of the Income-tax Act, 1961, which was admitted on the following substantial question of law: "Whether the Tribunal was right in treating the amount of Rs. 23,66,695 (the amount which was written off by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here is no deduction or allowance made in the assessment of any year and there is no finding to this effect. On the other hand, learned counsel for the Department has contended that the assessee had not raised this issue before the Income-tax Tribunal, as can be seen from the grounds of appeal before the Tribunal. We have perused the grounds of appeal filed before the Tribunal. We find that there is no such ground which was raised before the Tribunal which is being sought to be raised before us now. However, there is a general ground being ground No. 1 which was raised before the Tribunal: "The Commissioner of Income-tax (Appeals) erred, both in law and on the facts of the case, in determining the profit under section 41(1) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e or deduction has been made in the previous year in respect of loss, expenditure or trading liability there can be no addition under section 41(1) of the Income-tax Act. A perusal of the impugned order of the Income-tax Appellate Tribunal shows that there was no finding of the Tribunal that any deduction or allowance was made in the assessment of the assessee in an earlier year. In the circumstances, we set aside the impugned order of the Tribunal and remand the matter to the Tribunal for a fresh decision in accordance with law after hearing the parties concerned in which a clear finding should be given whether any deduction has been allowed in the assessment of the assessee in an earlier year so as to comply with section 41(1) of the In ..... X X X X Extracts X X X X X X X X Extracts X X X X
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