2021 (4) TMI 232

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....JIV SHAKDHER AND HON'BLE MR. JUSTICE TALWANT SINGH Appellant Through : Ms. Vibhooti Malhotra, Advocate. Respondent Through : Mr. Rohit Jain and Mr. Aniket D. Agrawal, Advs. O R D E R CM No.12299/2021 in ITA 104/2021 CM No.12301/2021 in ITA 107/2021 CM No.12388/2021 in ITA 108/2021 CM No.12394/2021 in ITA 109/2021 1. Allowed, subject to just exceptions. ITA Nos.104/20....

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....or not the assessee had maintained a foreign bank account with the Hongkong and Shanghai Banking Corporation Limited, Geneva, Switzerland (in short 'HSBC'). The Tribunal, after perusing the record and granting hearing to learned counsels for the parties, remanded the issue for fresh consideration by the assessing officer. To be noted, this issue arose only in AYs 2006-2007 and 2007-2008. 5.2. T....

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....We have perused the order of the Tribunal which is indicative of the fact that the issue regarding notional interest was not the subject matter of assessment year 2007-2008. This issue arose only in AYs 2008-2009 to 2011-2012. 9. The Tribunal, therefore, took a view that since it had not ruled on this aspect of the matter, the direction concerning remand could not apply to the said issue. It is....

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....g law, Hon'ble ITAT has exceeded its power of rectification under Section 254(2) of the Act by means of the impugned order, when the issue had been remanded to the file of the AO by the Hon'ble ITAT vide its order dated 03.09.2019. B. Whether on facts and in the circumstances of the case and also on the prevailing law, Hon'ble ITAT was legally justified in holding the interest income adde....