Remand for de novo assessment upheld where missing agreements and incomplete records prevented proper taxability determination.

The Tribunal was justified in remanding the assessment for de novo disposal because the records needed to decide the taxability of the transactions were incomplete and the relevant agreements for the local purchase and import transactions were not available. On the existing material, a proper assessment could not be made, so the matter was sent back to obtain the necessary documents and decide the case afresh in accordance with law. The challenge to the remand was rejected.

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Issues: Whether the Tribunal was justified in remanding the assessment to the assessing authority for de novo disposal in view of the absence of relevant documents and incomplete materials.

Analysis: The Tribunal found that the records necessary to decide the taxability of the transactions were not available, including the agreements relevant to the local purchase and import transactions. It therefore considered that a proper assessment could not be made on the existing material and remitted the matter so that the relevant documents could be obtained and the case decided afresh in accordance with law.

Conclusion: The remand was held to be proper and justified, and the challenge to it was rejected.

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