Itxa/926/2009 Of Dhanraj Mills Pvt. Ltd v. Asstt. Commissioner Of Income Tax, Mumbai

IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORGINAL CIVIL JURISDICTION INCOME TAX APPEAL NO. 926 OF 2009 Dhanraj Mills Private Limited. ... Appellant. V/s. Assistant Commissioner of Income Tax.... Respondent. Sanjeev M. Shah i/b. Pandya Gandhi & Co.for the appellant. B.M.Chatterjee for the respondent. CORAM : V.C.DAGA AND J.P.DEVADHAR, JJ.DATED : 27[th] August 2009. P.C.: Heard learned counsel for the appellant and learned counsel for the respondent. Perused appeal memo and the exhibits annexed thereto. 2.At the outset, learned counsel appearing for the assessee makes a statement that the assessee does not want to press question said to be question of law bearing No.(iv). The statement made is taken on record. 3.So far as remaining questions are concerned, after some debate, both advocates, ultimately, submitted that the matter be remitted back to the Tribunal for consideration afresh by setting aside the same without examining merits or demerits thereof so far as question Nos.(i), (ii) and (iii) raised in the present appeal. 4.On the above backdrop, the impugned order to the above extent is set aside dispensing with the reasons by consent of parties in support of this order and the matter is remitted back to the Tribunal with direction to re-examine and re-adjudicate afresh the nature and the character of the transactions involved in the appeal revolving around the subject questions. 5.Needless to mention that both parties shall be entitled to lead additional evidence in appeal before the Tribunal which the Tribunal may admit on its own merits, if satisfied with the necessity thereof for real and fair adjudication of the issues involved. 6.The Tribunal is expected to dispose of the appeal by a reasoned order following principles of natural justice with expeditious despatch, at any rate, within a period of six months from the date of receipt of copy of this order. All rival contentions concerning the remanded issues are kept open. 7.In the result, Appeal is disposed of in terms of this order with no order as to costs. (J.P.DEVADHAR, J.) (V.C.DAGA, J.)