TMI Blog2020 (9) TMI 495X X X X Extracts X X X X X X X X Extracts X X X X ..... ssues on merits and therefore, we answer the first substantial question of law in favour of the revenue. Therefore, it is not necessary to answer the second substantial question of law. In the result, the impugned order dated 21.12.2012 passed by the Income Tax Appellate Tribunal is hereby quashed and the matter is remitted to Commissioner of Income Tax (Appeals) to determine the issue afresh with regard to the unexplained cash credits to the tune of ₹ 50,00,000/- and ₹ 65,10,000/-. - I.T.A. NO. 211 OF 2013 - - - Dated:- 8-9-2020 - THE HON'BLE MR. JUSTICE ALOK ARADHE And THE HON'BLE MR. JUSTICE H. T. NARENDRA PRASAD FOR THE APPELLANTS : SRI. K. V. ARAVIND , ADV JUDGMENT This appeal under Section 260A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 28.03.2002, by which the Assessing officer determined the total undisclosed income at ₹ 2,96,78,150/-, wherein among other additions three credits pertaining to assessment years 1996-97 and 1997-98 amounting to ₹ 67,29,564/- and ₹ 60,63,900/- respectively were also assessed under undisclosed income. The assessee filed an appeal before the Commissioner of Income Tax (Appeals), who by an order dated 06.06.2002 deleted the additions on account of three credits and held that the credits in the bank accounts were already disclosed by the assessee to the department and cannot be assessed in block assessment. However, liberty was given to the Assessing officer to take recourse to regular assessment. 3. The department challeng ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gned in this appeals by the assessee and revenue need not be adjudicated and the proceedings have become infructuous in view of the order of the Tribunal dated 20.01.2006 in block assessment appeals. The appeals preferred by the assessee were allowed. In the aforesaid factual background, the revenue has filed this appeal. 5. Learned counsel for the revenue submitted that Tribunal erred in annulling the reassessment made prospectively under Section 147 for the assessment years 1996-97 and 1997-98 by treating the same as infructuous and in not dealing with the matter on merits especially when the issue with reference to unexplained cash credits of ₹ 50,00,000/- and ₹ 65,10,000/- were found to be unexplained. It is also urged th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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