2014 (1) TMI 804

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....on under Section 10B of the Income Tax Act, 1961 (for short 'the Act'). The Assessing Authority completed the scrutiny of the assessment under Section 143(3) of the Act and determined taxable income. Assessing Authority denied the benefit of exemption under Section 10B of the Act also. Aggrieved by the said orders, the assessee preferred an appeal to the Commissioner of Income Tax (Appeals). The assessee was granted relief under Section 80HHC of the Act in respect of the granites purchased and exported. Aggrieved by the said order the revenue preferred appeals before the Tribunal. The Tribunal dismissed the appeals preferred by the Department. The said order was challenged before this Court. This Court by order dated 31.05.2010 in ITA No. 3....

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....or review is filed, which is pending consideration. Thirdly and more importantly the assessee has produced material to show that he is entitled to the benefit, which he claimed and which material was not placed before the High Court in the earlier proceedings. As there cannot be any res-judicata in tax matters without proper application of mind, the Tribunal has decided the case of the appellant in the light of the material, which was produced on record and therefore, he submits that the order requires to be set aside. Moreover for the assessment years 1995-1996, which are the subject matter of these proceedings, this court has remanded the matter leaving all the contentions open, which have not been considered by the Tribunal. Therefore, h....