2008 (1) TMI 592

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....NT 1. The following common question has been proposed for the admission of these appeals: "Whether the Appellate Tribunal was right in law and on facts in rejecting the miscellaneous application which was preferred by the Revenue on the ground that no approval under section 10(15)(iv) (c) of the Act was communicated to the Assessing Officer?" 2. The basic issue raised is whether the asses....

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.... of Revenue, as required under section 10(15)(iv) (c) of the Act. But no such approval has been communicated to the Assessing Officer as is the practice to send a copy of it to the Assessing Officer. Therefore, the finding of the Income-tax Appellate Tribunal that the assessee has the obtained the approval requires reconsideration and the order passed, vide paragraph 5 in this context requires sui....