TaxTMI 
TaxTMI 
2013 (4) TMI 144
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....er section 260A of the Income-tax Act, 1961, arises from a decision of the Income-tax Appellate Tribunal dated July 27, 2010. The assessment year to which the appeal relates is the assessment year 2004-05. The following questions of law have been raised by the Revenue : "(i) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in allowing depreciation on....
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....the matter back to the file of the Assessing Officer with a direction to examine and decide the issue in the light of the decision of the hon'ble jurisdictional High Court in the case of Prime Securities Ltd. after giving reasonable opportunity of hearing to the assessee when the question of law involving levy of interest under section 234C is still open ?" 2. Counsel appearing on behalf of....
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.... of the statement, question (ii) will not raise any substantial question of law. 4. As regards question (iii), the Tribunal has, in paragraph 46 of its deci-sion, adverted to the judgment of this court in Prime Securities Ltd. v. Asst. CIT (Investigation) [2011] 333 ITR 464 (Bom). The Tribunal has observed as follows : "In the case under consideration, neither the Assessing Officer n....
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.... circumstances which existed in that case and which form the foundation of the judgment of the Division Bench and would not apply to the facts of the present case. Moreover, it has been pointed out that a special leave petition, which was filed before the Supreme Court against the decision in Prime Securities Ltd. [2011] 333 ITR 464 (Bom), was dismissed on September 16, 2011, with a specific obser....