TMI Blog2021 (4) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... ntion that an identical issue has been considered by a Division Bench of this Court, to which, one of us (TSSJ) was a party, in the decision in the case of CIT Vs. Manish D.Jain [HUF] [ 2020 (12) TMI 740 - MADRAS HIGH COURT ] and the issue has been answered in favour of the Revenue. In the light of the subsequent development that the respondent/assessee opted to avail the benefit of the said sc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T.S.SIVAGNANAM, J. This appeal has been filed by the Revenue under Section 260A of the Income Tax Act, 1961 ('the Act' for brevity) challenging the order dated 04.3.2020 made in I.T.A.No.2242/Chny/2017 on the file of the Income Tax Appellate Tribunal, Chennai, 'A' Bench ('the Tribunal' for brevity) for the assessment year 2014-15. 2. The Revenue has filed this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is to bring on record the role of the assessee in promoting the company and the relation of the assessee if any with that of the promotors and role of inflating of prices etc which exercise had already been done by the AO/CIT(A)? iii. Is not the finding of the Tribunal perverse especially when the decision of the Tribunal is contrary to the time tested principle that the person who asserts a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0] and the issue has been answered in favour of the Revenue. 6. However, in the light of the subsequent development that the respondent/assessee opted to avail the benefit of the said scheme, the assessee is given liberty to restore this appeal in the event the ultimate decision taken on the declaration filed by the assessee under Section 4 of the said Act is not in favour of the assessee. I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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