2019 (6) TMI 1100

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....the Respondents   P.C.: 1. This appeal is filed by the assessee to challenge the judgment of the Income Tax Appellate Tribunal, Mumbai ("the Tribunal" for short) dated 31.5.2016. 2. Following question is presented for our consideration:- "Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in not deciding the appellant's claim of certain r....

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....ncome Tax Act, 1961 ("the Act" for short). The Assessing Officer having taxed the income, the assessee carried the matter in appeal. The Commissioner decided both the issues against the assessee upon which the assessee approached the Tribunal. The Tribunal, by the impugned judgment, held the alternative contention of the assessee in favour of the assessee and resultantly was of the opinion that i....

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....tal receipt not exigible to tax and the said ground of appeal / question is kept open. In view of our above discussions and reasoning as set out above, we set aside the appellate orders dated 07- 01-2015 of the learned CIT(A) and consequentially the assessment orders dated 25-03-2013 passed by the AO u/s. 143(3) of the Act and allow the grounds of appeal raised by the assessee - trust as indicated....

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....tated that subsequent events would lead to this possibility. It is, therefore, important for the assessee to press for the main ground of the receipt not being taxable at all. 6. In view of the fact that the Tribunal has rested its judgment only on the assessee's alternative contention and as pointed out by the learned counsel for the assessee that it may happen that this ground may fail on a....