2019 (4) TMI 292

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....under Section 147 of the Act on merits and the issue relating to availability of deduction under Section 80 HHC on the interest earned by the Assessee on the bank deposits. 2. The relevant portion of the order of Tribunal is quoted below for ready reference. "4. In the present appeal, the question cropped up for our consideration was whether the assessee could raise the question of validity of jurisdiction assumed by the Assessing Officer under Sec.147 in the course of proceedings taken pursuant to the restoration of the appeals to the first appellate authority by the Tribunal. 5. We find that this issue stands covered in favour of the Revenue by the decision of the Hon'ble Madras High Court rendered in the case of M.S.P. Senthil K....

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....rged before us that the question of Validity of reassessment proceeding under Section 147 of the Act, which was raised before CIT (Appeals) after the remand by the learned Tribunal at the first instance vide order dated 25.08.2006 has not been decided by the CIT (Appeals) on the ground that the learned Tribunal has only remanded the issue back to the CIT (Appeals) on the question of availability of deduction under Section 80HHC with respect to interest income earned as to whether the interest receipt is an "Income from Other Sources" or an "Income from Business" and therefore the learned Tribunal ought to have decided the said question of validity of reassessment proceedings also, while deciding the question of availability of deduction in ....