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of <h1>High Court upholds Tribunal's decision to remand tax issues, dismisses appeal</h1> <h3>COMMISSIONER OF INCOME TAX II Versus SHAILESH KANTILAL CHOKSHI</h3> The High Court dismissed the Tax Appeal challenging the Income Tax Appellate Tribunal's decision to remand issues back to the Assessing Officer. The Court ... - Revenue appealed against the ITAT's order remitting issues to the Assessing Officer, challenging three substantial questions of law framed by the Revenue: (i) whether ITAT's setting aside of CIT(A)'s order and 'restoring the issue in respect of addition of Rs. 23,58,118/- back to the file of the Assessing Officer for fresh decision' was perverse, and whether ITAT erred in directing to add peak debit balance & allow netting ignoring AO's basis for addition; (ii) whether ITAT's restoration of the addition of 'Rs. 3,29,264/- made in respect of unaccounted investment in gold' was perverse when no evidence was produced at search or before appellate authorities; and (iii) whether ITAT erred in directing telescoping benefit 'even in respect of recurring deposit accounts' and remitting addition of Rs. 2,39,028/- to the AO. Court noted that ITAT remanded two issues for fresh consideration and granted a second inning to the assessee on a matter with significant revenue implication. Finding that the Tribunal 'gave proper reasons for remanding the matter,' the Court held that 'no question of law arises.' Tax Appeal dismissed.
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