2008 (11) TMI 73

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....in denying the set off of losses of business income without considering the weight of evidence submitted before it is sufficient for the Tribunal to remit the matter back for fresh ascertainment of facts when all the materials were available before it on record?" 2. The learned senior counsel appearing for the appellant would submit that the Tribunal was not correct in coming to the conclusion that the matter should be remitted to the Assessing Officer with a specific direction to find out whether the assessee has temporarily suspended its business and actually incurred the expenditure. 3. The assessee is engaged in the business of manufacturing plastic moulds and plastic products. According to the assessee, its very first project to ....

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....order passed toy the Commissioner of Income-tax (Appeals), which reads as follows: "6.2. The appellant's representative also objected to the Assessing Officer's statement that no evidence in regard to the sale of scrap was furnished. It was stated in the written submission that the scrap of the mould was sold to the same person during both the accounting periods and the copies of the invoices raised were also furnished during the course of the assessment proceedings for the assessment year 1999-2000, vide letter dated December 24, 2004, and that for the assessment year 1998-99, a copy of invoice was furnished along with the books produced on February 24, 2005. 6.3. With regard to the Assessing Officer's observation that the expenditur....