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Issues involved: Appeal against order of CIT(A)-V, Hyderabad for assessment year 2006-07. Additional grounds filed regarding family arrangement for settling family disputes.
Summary: The appeal was made by the assessee against the order of the CIT(A)-V, Hyderabad for the assessment year 2006-07. The assessee submitted that a family arrangement was made to settle family disputes, which should not be considered as a transfer for taxation purposes. The counsel relied on judgments of the Apex Court to support this argument. It was acknowledged that the lower authorities had not considered this issue, and both the assessee's counsel and the Departmental Representative had no objection to remanding the matter back to the Assessing Officer for reconsideration. The Tribunal agreed that the issue of family arrangement needed to be addressed first, as it was crucial, and directed the Assessing Officer to reconsider all issues raised by the assessee. The order of the lower authorities was set aside, and the matter was remitted back to the Assessing Officer for a fresh decision based on the materials provided by the assessee. The Tribunal allowed the appeal of the assessee for statistical purposes, emphasizing that the Assessing Officer should reconsider the entire issue without being influenced by any previous observations. The decision was pronounced in open court on 28th June, 2010.
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