2011 (12) TMI 530

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....to assessment year 1997-98. 2. At the outset, the ld. Counsel of the assessee stated that the appeal of the department is infructuous in nature. It was explained that in fact proceedings under section 263 were initiated and the ld. CIT directed the Assessing Officer to consider the various deposits and share application money afresh as proper enquiry was not made earlier. 2.1. It was submitted t....

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....ssee in view of the decision of Tribunal that the order under section 263 was not correct in respect to share application money. In view of these facts and circumstances, it was submitted that the appeal of the department is infructuous in nature. 3. The ld. CIT D/R has fairly accepted the contention of the ld. A/R. 4. After considering the orders of the Assessing Officer and ld. CIT (A) and the....