https://www.taxtmi.com/caselaws?id=245875 The Appellate Tribunal decided to restore the matter back to the Assessing Officer for the assessee to present its case regarding jobbing transactions, emphasizing the need for definite findings of fact and proper allocation of expenses. The tribunal dismissed the contention that jobbing transactions should be considered falling under a specific clause of the Income Tax Act solely based on regular business activities without proper substantiation. Additionally, the tribunal clarified that only documents referred to during arguments are considered part of the record, leading to the dismissal of objections regarding non-consideration of three decisions submitted. The tribunal also recalled the appeal for further adjudication on the fifth ground concerning depreciation on the Mumbai Stock Exchange card, stressing the importance of addressing all grounds raised during the hearing for a comprehensive decision-making process. en-us Fri, 04 Apr 2014 00:00:00 +0530 Fri, 11 Apr 2014 11:35:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245875 The Appellate Tribunal decided to restore the matter back to the Assessing Officer for the assessee to present its case regarding jobbing transactions, emphasizing the need for definite findings of fact and proper allocation of expenses. The tribunal dismissed the contention that jobbing transactions should be considered falling under a specific clause of the Income Tax Act solely based on regular business activities without proper substantiation. Additionally, the tribunal clarified that only documents referred to during arguments are considered part of the record, leading to the dismissal of objections regarding non-consideration of three decisions submitted. The tribunal also recalled the appeal for further adjudication on the fifth ground concerning depreciation on the Mumbai Stock Exchange card, stressing the importance of addressing all grounds raised during the hearing for a comprehensive decision-making process. Case-Laws Income Tax Fri, 04 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245875