https://www.taxtmi.com/caselaws?id=364430 Section 254(1) gives the ITAT power to pass orders "as it thinks fit" on the subject matter of the appeal, including remand directions, even where the specific factual aspect was not earlier investigated by the lower authorities. The Tribunal may direct fresh enquiry into matters incidental to the assessment if the enquiry is necessary for correct determination of tax liability, provided the issue remains within the appeal and both sides are heard. A remand of this kind does not itself determine taxability; it only permits the Assessing Officer to examine the factual foundation. The Tribunal was therefore held to have jurisdiction to remand enquiry into the fair market value of shares, and the assessee's challenge failed. en-us Mon, 23 Jul 2018 00:00:00 +0530 Sun, 29 Jul 2018 13:23:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364430 Section 254(1) gives the ITAT power to pass orders "as it thinks fit" on the subject matter of the appeal, including remand directions, even where the specific factual aspect was not earlier investigated by the lower authorities. The Tribunal may direct fresh enquiry into matters incidental to the assessment if the enquiry is necessary for correct determination of tax liability, provided the issue remains within the appeal and both sides are heard. A remand of this kind does not itself determine taxability; it only permits the Assessing Officer to examine the factual foundation. The Tribunal was therefore held to have jurisdiction to remand enquiry into the fair market value of shares, and the assessee's challenge failed. Case-Laws Income Tax Mon, 23 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364430