TMI Blog1987 (3) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... e old and new plans giving the numbers of the plots were produced for the first time before it so that the Appellate Assistant Commissioner could not have appreciated the point thoroughly and in further holding that the Appellate Assistant Commissioner was not in a position to comment upon the said evidence ? (2) Whether, on the facts and in the circumstances of the case, the assessee having filed certified copies of registered sale deeds as comparative cases for calculating the fair market value before the Income-tax Officer and referred in proceedings under section 144B before the Inspecting Assistant Commissioner and fully dealt with in the speaking order of the Appellate Assistant Commissioner, the Tribunal was right in holding that t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rh State, were exempt from tax. The Income-tax Officer did not also accept the sale price of those plots as disclosed by the assessee. The Income-tax Officer resorted to the provisions of section 52(2) of the, Act and estimated the market value of the plots and the Capital gains arising from the sale of those plots and held the assessee liable to tax accordingly. Aggrieved by the order passed by the Income-tax Officer, the assessee preferred an appeal before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner upheld the finding of the Income-tax Officer that the capital gains derived from the sale of plots were not exempt from tax. The Appellate Assistant Commissioner, however, held that the Income-tax Officer was not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er who had decided the matter, whether the Tribunal was justified in remanding the case to the Appellate Assistant Commissioner for deciding it afresh. We have, therefore, reframed these questions as follows : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in remanding the case to the Appellate Assistant Commissioner for deciding it afresh ? Now, it is true that under section 254 of the Act, the Tribunal has power to pass such order as it thinks fit and, therefore, the Tribunal has undoubtedly power to remand the case to the Appellate Assistant Commissioner for deciding it afresh. The question for consideration is whether the Tribunal has legally exercised the discretion in making the order of r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al's power of remanding an appropriate case to investigate fresh facts cannot be disputed, it must be borne in mind that the power must be exercised with proper discretion and that it should not be exercised if all the basic facts required for disposal of the matter are already on record. Keeping in view the aforesaid principles, let us turn to the facts of the instant case. The Appellate Assistant Commissioner had before him the entire material on record, the receipts issued on behalf of the assessee in respect of the agreements entered into by the purchasers, the sale deeds executed by them and the sale deeds of plots of land in the neighbourhood for showing comparative sales. All this material was considered by the Appellate Assistant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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