2011 (10) TMI 23

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....for the Appellant   Goolam E. Vahanvati, AG and B.V. Balaram Das, Adv., for the Respondent   JUDGEMENT   Delay condoned.   Leave granted.   The appellant is an individual. He is a partner in M/s. Mahajan Exports, Panipat, and M/s. Maspar, Panipat. He derives business income, income from salary and income from house property. A search was conducted under Sect....

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....e Assessing Officer under Section 158BC of the Act was set aside by Commissioner of Income under Section 263 of the Act with a direction to make the assessment de novo on the points enumerated in Synopsis 'C' to the special leave petition. This Order of Commissioner of Income Tax under Section 263 of the Act was set aside by the Income Tax Appellate Tribunal ['ITAT', for short] observing that the ....

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....nch of the High Court, particularly when, by the impugned judgement, the High Court has over-ruled the decision of ITAT. Since statutory appeal lies to the High Court under Section 260A of the Act, the High Court ought to have given it's findings in detail, particularly on the question whether there was any error of law in the decision of ITAT and whether that error caused prejudice to the Revenue....