2016 (12) TMI 105 - SCH - Income Tax

Block assessment u/s 158BA r.w 113 Source of investment not properly explained - Addition u/s 69 - Held that - High Court 2014 (8) TMI 43 - ANDHRA PRADESH HIGH COURT e ought to have framed the substantial question(s) of law arising in the appeal before answering the same. The High Court having not done that, we set aside the order passed by the High Court and remand the matter to the High Court for a de novo consideration after formulating the substantial question(s) of law arising, if any.

Summary

The Supreme Court granted leave in an income tax appeal under Section 260A of the Income Tax Act, 1961. The Court found that the High Court erred by not framing substantial questions of law before deciding the appeal. The case was remanded back to the High Court for fresh consideration after formulating the necessary questions. The Court clarified that no opinion was given on the case's merits. The High Court's order dated 16.07.2014 was set aside.