TMI Blog2019 (8) TMI 1063X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment year was remanded to the tribunal for reconsideration. Now, if the main issue has been remanded to the tribunal, it is required to decide it afresh. That part of its order is set aside. The question of penalty would only arise after its decision. The order setting aside the penalty based on the earlier adjudication is also of no consequence. Therefore, in our considered opinion, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RA, JJ. For The Appearance : Mr. P.K. Bhowmick, Adv. For The Respondent : Mr. Abhijit Chatterjee, Sr. Adv. And Mr. Gopal Ram Sharma, Adv. ORDER The Court :- This appeal involves two assessment years 2002-2003 and 2003-2004. The tribunal disposed of the appeals in relation to both these assessment ye ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Division Bench of this Court in ITA No. 428 of 2007 (The Peerless General Finance Investment Co. Ltd.-Versus- Commissioner of Income Tax, Kolkata-1) and ITA No. 429 of 2007 (The Peerless General Finance Investment Co. Ltd.-Versus- Commissioner of Income Tax, Kolkata-1) decided on 11th July, 2018 where this particular issue regarding depreciation for the said assessment year was remanded to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the said Act. Upon hearing learned counsel for the parties, we admit the appeal in relation to the assessment year 2003-2004 on the following substantial questions of law: 1. Whether on the facts and in the circumstances of the case, the tribunal has interpreted and applied Section 271[1][c] of the Income Tax Act, 1961 correctly? 2. Whether on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
