2006 (3) TMI 76

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....is is an appeal filed by the Revenue (Commissioner of Income-tax) under section 260A of the Income-tax Act, 1961, against an order dated September 7, 2001, passed by the Income-tax Appellate Tribunal (hereinafter referred to as "Tribunal") in I.T.A. No. 180/Ind/1997 and I.T.A. No. 175/Ind/1997. This appeal was admitted for hearing on the following substantial question of law: "Whether, on the f....

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....owed and the case (appeal) is remanded to the Tribunal to decide the appeal afresh on merits. While deciding the appeal on several grounds, the Tribunal decided the ground which is the subject-matter of this appeal, i.e., ground No. (iv) in paras. 12 and 13 as follows: "12. Ground No. (iv) relates to the restriction of the relief under section 80-IA by the Commissioner of Income-tax (Appeals....

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....tter of credit guarantees. The Assessing Officer has followed the decision of the Karnataka High Court in the case of CIT v. Siddaganga Oil Extractions P. Ltd. [1993] 201 ITR 968 while doing so. In this case the hon'ble court was pleased to hold that the income from lorry hire, weighment charges, miscellaneous receipts, income from fixed deposits, etc., should not be included in the computation of....

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.... their case and, lastly, the conclusion based on decided cases depending upon the facts of each case. As noticed earlier, we do not find this exercise has been done by the Tribunal while deciding the issue sought to be raised by the parties in this appeal. Indeed, section 80-IA is not referred to and the issue is decided in favour of the assessee. We cannot countenance such casual approach in deci....