2014 (7) TMI 52

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.... Adv. a/w Mr Madhur Agarwal and Mr Atul K Jasani. JUDGEMENT PC: 1. This Appeal challenges the order passed by the Income Tax Appellate Tribunal on 17.10.2012. The Income Tax Appeal No.6400/Mum/2011 was dismissed by the Tribunal. The Assessment Year in question is 2004-2005. The Revenue had appealed to the Tribunal against the order passed by the Commissioner of Income Tax (Appeals) dated ....

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....ed by the Tribunal and impugned in this case we are inclined to agree with Mr.Dastur. It is conceded before us that in the subject Assessment Year and in the Appeal before the Tribunal the issue of applicability of Section 56(2)(v) of the Income Tax Act, 1961 which was inserted in the statute book with effect from 01.04.2005 did not arise at all. Concededly the Revenue proceeded on the footing tha....

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....as not before the Tribunal when the Appeal was decided by the Tribunal. In such circumstances now to proceed on assumption that the ground that the receipt was casual and nonrecurring was pressed and not considered by the Tribunal, will be unfair to the Assessee. It would also mean that this Court entertains an appeal against an order of the Tribunal on a question termed as a substantial question ....