2003 (3) TMI 47 - HC - Income Tax

Substantial question of law - it is not seen as to in what manner the challenge to the findings of the Commissioner of Income-tax (Appeals) in respect of the aforementioned amount has been dealt with by the Tribunal. The Tribunal, in our opinion, could not merely say that it agrees with the findings of the Commissioner of Income-tax (Appeals) - we have no other go but to remand the matter. A total non-consideration by the appellate court would entail a substantial question of law. In that view, we would choose to interfere in this order and send back the matter for fresh decision of this issue alone

Summary

The High Court of Madras remanded the case back to the Tribunal for fresh decision on the issue of addition to closing stock. The Tribunal did not properly consider the challenge to the findings of the Commissioner of Income-tax (Appeals) regarding the amount of Rs. 79,47,330. The Court found a total non-consideration by the appellate court, leading to a substantial question of law, and decided to interfere in the order for a fresh decision on this issue alone. Other issues were not interfered with.