2019 (3) TMI 899

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....RAWAL, J. The present appeal has been filed under Section 260-A of the Income Tax Act, 1961 (hereinafter referred to as "the Act") against the order dated 30th March, 2015 passed by the Tribunal in ITA No. 3376/Del/2013 for the assessment year 2008-09. The appeal was admitted vide this Court's order dated 22nd September, 2015 on the following substantial question of law, which reads as f....

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....g Authority. Further, there were Sundry Creditors of Rs. 10,81,49,561/- which were unexplained. The respondent-assessee paid Rs. 13,05,900/- towards designing charges on which no proper inquiry was made, as to whether, TDS was made on these payment or not. The respondent has shown fire loss of Rs. 62,58,623/- for which the Assessing Authority has neither taken any detail nor made any inquiry. ....

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.... It was argued on behalf of the Revenue that the Tribunal was not justified in setting aside the order of the CIT passed under section 263 and Assessing Authority without proper examination/verification, has allowed certain claims of the respondent. Rebutting the argument of the Revenue, the counsel for the respondent has argued that the Tribunal being a last court of fact and law has rightly a....

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....were not mentioned in the notice under Section 263 of the Act. In the impugned order, the Tribunal has recorded a finding of fact which is quoted as below:- "16. Under these clear facts and circumstances of the present case we hold that the issue is covered on all four corners in favour of assessee by decision of the coordinate bench of in the case of B.S. Sangwan (supra) and we are in....