Remand for fresh tax inquiry upheld where further factual scrutiny was needed and no substantial question of law arose.

A remand for fresh factual inquiry was upheld where the Tribunal directed de novo examination of the assessee's claim in light of the Supreme Court's ruling in Citizen Co-Operative Society Ltd. v. ACIT. The High Court accepted that the nature of the assessee's activity and receipt of deposits from non-members required further scrutiny, and held that no substantial question of law arose for admission of the appeal. It also noted that the Assessing Authority would decide the matter independently and that the remand observations would not prejudice either party.

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Issues: Whether interference was warranted with the Tribunal's order remanding the matter for fresh consideration and whether any substantial question of law arose for admission of the appeal.

Analysis: The Tribunal had remanded the matter to the Assessing Officer for de novo examination in the light of the Supreme Court's decision in Citizen Co-Operative Society Ltd. v. ACIT, holding that the nature of the assessee's activity and the receipt of deposits even from non-members required fresh inquiry. The High Court found that the remand order was in accordance with law and that no substantial question of law arose for consideration. It also noted that the Assessing Authority would independently decide the matter and that observations made while remanding would not prejudice either party.

Conclusion: No interference was called for and the appeal was dismissed.

Final Conclusion: The remand to the Assessing Officer was upheld, leaving the parties free to establish their respective cases before the Assessing Authority in accordance with law.

Ratio Decidendi: An order of remand for fresh factual inquiry, passed to enable reconsideration of the assessee's entitlement under the governing tax provision, will not be interfered with in appeal in the absence of a substantial question of law.

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