2012 (11) TMI 987

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....OPARKAR, SR. ADV WITH MRS SWATI SOPARKAR for Opponent(s): 1, ORAL ORDER (Per : HONOURABLE MR.JUSTICE AKIL KURESHI) Revenue is in appeal against the judgment of the Tribunal dated 30th April 2010 raising following questions for our consideration: "1. Whether the Appellate Tribunal is right in law and on facts in restoring the issue of method of accounting to the file of A.O. with the di....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....espect of those assessees who are following the Cash System of accounting and also in respect of Securities issued prior to 15.02.2002? 3. Whether the Appellate Tribunal is right in law and on facts in holding that interest u/s.234D of the Act which has been brought on the statute from 1.06.2003 cannot be applied to the A.Y. 2003-04 and earlier years without appreciating that the assessment in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sides agree, is consequential to the outcome of the issue involved in question No.1. In so far as question No.3 is concerned, the same pertains to interest charged under section 234D of the Income Tax Act. Counsel for the assessee submitted that when the Tribunal had remanded the main issue, at this stage, question of charging interest would not arise. Having thus heard the counsel for the part....