Court sets aside Tribunal's judgment on Revenue appeals for assessment years 1998-99 and 2000-01, remands for fresh consideration.

The Court partially allowed the petitions, setting aside the Tribunal's judgment on the Revenue's appeals for the assessment years 1998-99 and 2000-01. The matter was remanded to the Tribunal for fresh consideration, ensuring the assessee had the opportunity to oppose the additions related to the alleged suppression of net profit. The Court directed independent disposal of the issue in accordance with the law, declaring the Tribunal's previous order as not surviving.

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Issues:
Challenge to Tribunal's order dated 27.03.2017 and portion of order dated 05.12.2008 regarding alleged suppression of net profit in assessment years 1998-99 and 2000-01.

Detailed Analysis:

1. Challenge to Tribunal's Orders:
The petitioner challenged the Tribunal's order dated 27.03.2017 and portion of the order dated 05.12.2008 related to alleged suppression of net profit in assessment years 1998-99 and 2000-01. The petitioner contended that the Tribunal did not permit raising an additional ground and that the official record could not be doubted. The Tribunal had allowed the Revenue to raise the additional ground after the submissions were over, as observed in the order dated 05.12.2008. The Tribunal believed that the facts and grounds were common for all assessment years, justifying the allowance of the ground at the last moment. However, the Tribunal's informal process deprived the assessee of the opportunity to oppose the additional ground on merits.

2. Tribunal's Decision and Remand:
The Court noted that the Tribunal acted informally and did not give the assessee a chance to oppose the additional ground raised by the Revenue. Consequently, the Court set aside the Tribunal's decision on the Revenue's appeals for the assessment years 1998-99 and 2000-01. The matter was remanded to the Tribunal for fresh consideration, allowing the assessee full opportunity to oppose the additions pressed by the Revenue on the ground of suppression of net profit. The Court directed that the Tribunal's findings on this issue be independently disposed of in accordance with the law.

3. Disposal of Petitions:
The Court partially allowed the petitions, setting aside the Tribunal's judgment on the Revenue's appeals for the mentioned assessment years. The Tribunal's findings on the issue of suppression of net profit were also set aside for fresh disposal. The order dated 27.03.2017 passed by the Tribunal in the Miscellaneous Application was declared not to survive, and the petitions were disposed of accordingly.

This detailed analysis covers the issues involved in the legal judgment, highlighting the arguments presented by both parties and the Court's decision to remand the matter for fresh consideration.

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