2012 (4) TMI 247

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....: (ORAL) Notice. Mr. Rajesh Dureja, Adv. accepts notice. This appeal filed by the Revenue under Section 260A of the Income Tax Act, 1961 (Act, for short) impugns order dated 30.3.2011 passed by the Tribunal giving the following directions :   "4. We have considered the submissions of Ld. D.R. for the Revenue and have gone through the orders of authorities below. We find that the Assessi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al profit from sale purchase of shares & F&O segment. When the income declared by the assessee in its return of income is only  Rs. 410.77 lacs, then how there can be profit from sale purchase of shares and F & O segment of  Rs. 1243.88 lacs. The assessee has not appeared before us to explain this fact and hence, we deem it fit and proper to restore the matter back to the file of the Ass....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s where the Tribunal has remanded this aspect/ question to the Assessing Officer either before or after the decision in Maxopp Investment Ltd. (supra) for a fresh consideration, the Assessing Officer is bound to comply with the direction and ratio expounded in Maxopp Investment Ltd. (supra). Decision of the jurisdictional High court is binding on the Assessing Officer and the assessee. Even when t....