Concessional tax treatment remitted for fresh consideration after Tribunal order was set aside for reconsideration on existing evidence

The Madras HC set aside the Tribunal's order and remitted the matter for fresh consideration because the question of eligibility for concessional tax treatment had not been decided on the merits. The Tribunal was directed to re-examine the issue on the evidence already on record, give both sides a personal hearing, and decide afresh in accordance with law.

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Issues: Whether the Tribunal's order should be interfered with and the matter remitted for fresh consideration on the assessee's eligibility for concessional rate of tax.

Analysis: The revision was not decided on the merits of the classification or rate of tax. The Court found it appropriate to set aside the Tribunal's order and remit the matter for fresh consideration on the evidence already on record. The Tribunal was directed to afford personal hearing to both sides and to decide the issue afresh in accordance with law.

Conclusion: The impugned order was set aside and the matter was remitted to the Tribunal for fresh adjudication on the question of concessional tax treatment.

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