2013 (10) TMI 1079

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....n law and in facts in passing the order without complying with the principles of natural justice. 3. The learned Commissioner of Income-tax (Appeals) has erred in law and in facts in not appreciating that no income from attached assets can be assessed in the hands of the appellant. 4. The learned Commissioner of Income-Tax (Appeals) has erred in law and in facts in not granting relief of liability amounting to Rs. 5,14,455/-, towards interest expenditure claimed by the appellant. 5. The learned Commissioner of Income-tax (Appeals) has erred in law and in facts in confirming calculation of book profit u/s. 115JB amounting to Rs. 26,29,747/-. 6. The learned Commissioner of Income-Tax (Appeals) has erred in law and in facts in confirming i....

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....nts and the proposed adjudication of the Ld. CIT(A) in view of the said direction may have direct impact on the issue of the impugned liability, we set aside this issue also to the files of the Ld. CIT(A) to adjudicate afresh along with the adjudication of the respective ground pertaining to the rejection/reliability of the books of accounts." In view of the fact that the present assessee is also linked to the group assessee connected with the similar set of facts and issues as that of the present assessee in the said order of the ITAT, we, by following the findings of the Tribunal in the aforementioned case, set aside the issues to the file of the Ld.CIT(A) to adjudicate afresh in the line of similar direction given by the ITAT in ITA Nos....

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....he following additional ground:- "The Ld. CIT(A) ought to have appreciated that as per the decision of Hon'ble Special Court dated 30.04.2010 in MP No. 41 of 1999, the assets under consideration and the consequential income belongs to Shri Harshad S. Mehta and hence the income assessed by the Assessing Officer ought to have been taxed in the hands of Shri Harshad S. Mehta and not in the hands of the appellant." 8. As agreed by the ld. representatives of both the sides, a similar additional ground raised by the assessee in the case of another assessee belonging to the same group namely Shri Hitesh S. Mehta was admitted by the Tribunal vide its order dated 12-06-2013 passed in ITA No. 5587 to 5589/Mum/2011 but the same was finally dismissed....