TMI Blog2019 (6) TMI 1298X X X X Extracts X X X X X X X X Extracts X X X X ..... ch the remand order was passed in purported exercise of powers vested in the CIT u/s 263 i.e. unsecured loans/creditors, was not a subject matter of appeal and obviously could not have because this issue had been decided by the statutory authority in favour of assessee. No infirmity in the exercise and since the order has been acted upon to result in the fresh assessment order, we leave it open for the assessee to question the same in accordance with law but finding no issues which are in the nature of substantial question of law we refuse to grant indulgence, to dispose in this appeal. Be noted that we have not expressed any opinion on the inter-party merits and the appellant shall be at liberty to raise all issues as he chooses to r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst the assessment order dated 30.07.2010 which was allowed vide order dated 21.11.2011; the net profit of the assessee was estimated at the rate of 5% and the matter was remitted to the Assessing Authority for passing order afresh. The Revenue feeling aggrieved by the order of the Commissioner, Income Tax (Appeals) dated 21.11.2011 approached the Income Tax Appellate Tribunal in I.T.A. No. 20/Pat/2012 but which has been rejected by the order passed on 03.07.2014 at Annexure-7 to the appeal. The issue in so far as the assessment of profit is concerned, has now attained finality however, in between this exercise, another development has taken place. The Commissioner of Income Tax II in purported exercise of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich the remand order was passed in purported exercise of powers vested in the Commissioner, Income Tax under Section 263 i.e. unsecured loans/creditors, was not a subject matter of appeal and obviously could not have because this issue had been decided by the statutory authority in favour of assessee. In the circumstances discussed, we find no infirmity in the exercise and since the order has been acted upon to result in the fresh assessment order, we leave it open for the assessee to question the same in accordance with law but finding no issues which are in the nature of substantial question of law we refuse to grant indulgence, to dispose in this appeal. Be noted that we have not expressed any opinion o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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