2025 (3) TMI 2058

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....DICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER For the Assessee : None For the Department : Sh. D.S. Sidhu, CIT(DR) ORDER PER SATBEER SINGH GODARA, JM The instant batch of two appeals pertain to as many assessees herein M/s. Associated Techno Plastics (P.) Ltd. and M/s. HCL Employees & Investment Co. Ltd. The Revenue has filed it's appeal ITA No.7444/Del/1992 [ACIT Vs. M....

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....und seeks to reverse CIT(A)'s action deleting section 69 unexplained investment addition of Rs. 26,48,017/- made by the Assessing Officer in his assessment framed on 30.03.1992. It thus emerges in this factual backdrop that the tax effect involved in this appeal file is less than the minimum tax effect prescribed of Rs. 60 lakhs in the CBDT latest Circular No. 9/2024, dated 17.09.2024 with retrosp....

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....rket price of the shares, in the relevant previous year, going by the price quoted at the recognized stock exchange. 7. Faced with this situation, learned CIT(DR) seeks to buttress the point that this is a remand case as per the hon'ble jurisdictional high court's directions dated 21st November, 2013 in the Revenue's ITA No.95/2002 preferred against the tribunal's first round order dated 15.10.....

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....ares sold in the relevant previous year. There could be hardly any dispute going by the ITO v. Ch. Atchaiah [1996] 218 ITR 239 (SC) that any taxable income has to be assessed in the correct assessee's hands only. We thus, deem it appropriate in the larger interest of justice to restore the assessee's instant appeal back to the learned CIT(A) for his afresh appropriate adjudication after examining ....