2012 (12) TMI 984

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....#39; for short) dated 21.10.2011 raising following questions for our consideration: "A. Whether the Appellate Tribunal has substantially erred in setting aside the issue of set off of interest income from share application money against public issue expenses? B.  Whether the Appellate Tribunal has substantially erred in setting aside the issue of disallowance u/s.35D of the Act? C.&n....

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.... income from share application money. The Tribunal followed the decision of this Court in Tax Appeal No.315 of 2010. In the said decision in para 11, this Court had made following observations : "11. Coming back to the facts of the case, we may reiterate that the assessee was statutorily required to keep share application money in the separate account till the allotment of shares was completed.....

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.... that the Tribunal remanded the issue for fresh consideration erroneously relying on a remand order passed in Tax Appeal No. 667/05 for the assessment year 2001-02. She pointed out that such issue had reached the Tribunal after a round of remand and full consideration by the Assessing Officer and CIT(Appeals). The Tribunal was, therefore, required to examine the issue on merits and give its decisi....