2015 (1) TMI 1329 - HC - Income Tax

Admit on the following substantial questions of law - (A) Whether on the facts and in the circumstances of the case and in law, the Tribunal grossly erred in not, at the outset, deciding the application for admission of additional evidence filed under Rule 29 of the Income Tax Appellate Tribunal Rules,1963 read with the additional evidence paper book before proceeding to pass an order on the merits of the controversies involved in the appeal ? (B) Whether on the facts and in the circumstances of the case and in law, the Tribunal was right in approving the denial of exemption under Section 54F ? (C) Whether the Tribunal infringed the principles of natural justice in not providing an opportunity to the Appellant to rebut the detrimental conclusions inferred by the Tribunal based on the additional evidences adduced by the Appellant and the Circular No.495 dated 22.09.1987 ?

Summary

The High Court of Bombay heard an appeal related to the Assessment year 2006-07. The court admitted the appeal based on substantial questions of law regarding the approval of denial of exemption under Section 54F and the infringement of natural justice by the Tribunal. The hearing was expedited due to the appellant's age, and the appeal was scheduled for directions on March 25, 2015.