2018 (10) TMI 64

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..... Ms. Malavika Kalra, Advocates. O R D E R CM No. 29462/2018 Delay of thirty days in re-filing of appeal is condoned for the reasons stated in the application. The application is allowed. ITA No. 764/2018 We have heard counsel for the appellant-Revenue and the respondent-assessee in this appeal, which pertains to Assessment Year 2007-08 and arises from the order of the Income Tax Appellate Tr .....

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..... by the Assessing Officer at the time of assessment proceedings. Thus, the Ld. AR has rightly pointed out that the department cannot take new stand from its earlier decisions. It is pertinent to note that the order u/s 263 is merely a second opinion which is not permissible under the Act." 2. Counsel for the respondent-assessee states that the issue of royalty was examined by the Assessing Office .....

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..... the said statement. It is directed that the Tribunal would re-examine the issue of royalty and disallowance under Section 40(a)(ia) of the Act afresh in view of the observations and findings recorded by the Commissioner of Income Tax in his order under Section 263 of the Act and submission of the respondent-assessee. We also observe that we have not examined these aspects on merits and leave it to .....

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