2007 (3) TMI 220

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....the Income-tax Appellate Tribunal, Delhi Bench "F", New Delhi in I.T.A. No. 4071/Del/1998 relevant for the assessment year 1995-96. After hearing learned counsel for the parties, we admit the appeal and frame the following substantial question of law for our consideration: "Whether the Income-tax Appellate Tribunal was right in law in rejecting the grounds raised by the Revenue in appeal wit....

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..... Accordingly, ground No. 1 raised by the Revenue is rejected." Similarly, while rejecting ground No. 2, the Tribunal has again given no reason and has rejected the contention in the facts and circumstances of the case. This is what the Tribunal has to say while rejecting ground No. 2 raised by the Revenue: "Having heard the rival submissions and perused the material placed on our files and ....

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....s merely stated that on the facts and circumstances of the case, no interference is called for. Similarly, while dealing with ground No. 2, the Tribunal has recorded the submissions of the Revenue as well as the assessee and has stated that having gone through the various pages of the paper book, no interference is called for. It is true that the Tribunal has expressed satisfaction with the rea....