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The HC held that the Commissioner's order under Section 263 of the IT Act constituted an open remand, not a closed remand, as it set aside the assessment order and directed fresh consideration on merits. The Tribunal erred in ruling that the assessee should have separately challenged the Section 263 order. Since the CIT(A) had decided the appeal against the revised assessment on merits, the Tribunal should have addressed substantive issues rather than dismissing the appeal as "not maintainable." The Court interfered with the Tribunal's order, restoring the appeal for fresh consideration on merits, ultimately deciding in favor of the assessee.
The HC held that the Commissioner's order under Section 263 of the IT Act constituted an open remand, not a closed remand, as it set aside the assessment order and directed fresh consideration on merits. The Tribunal erred in ruling that the assessee should have separately challenged the Section 263 order. Since the CIT(A) had decided the appeal against the revised assessment on merits, the Tribunal should have addressed substantive issues rather than dismissing the appeal as "not maintainable." The Court interfered with the Tribunal's order, restoring the appeal for fresh consideration on merits, ultimately deciding in favor of the assessee.
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