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TMI Blog1981 (2) TMI 126X X X X Extracts X X X X X X X X Extracts X X X X ..... CTR (Supreme Court) 190 : (1979) 119 ITR 996 (Supreme Court). 3. That the order of the ld. CIT on the point of interest paid at 18% against receipt of 12% thereby desiring to add 6% as a fresh material for action under s. 263(1) is against facts on record and findings in 1980 UPTC 43 (All). 4. That the order of the ld. CIT is without jurisdiction since the ITO s order already stood merged in the order of the ld. CIT (Appeals) and decision in J.K. Synthetics Ltd. vs. Addl. CIT Anr. (1976) 105 ITR 344 (All) fully applies to the present case. 5. That without prejudice to other grounds there was no prejudice to the revenue and even on merits there was no case for disallowance of (1) interest paid to HUFs (b) difference between interest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nterest of the revenue. A notice was issued to the assessee and in compliance thereto, various submissions were made and written arguments were filed. After having considered the matter the ld. CIT set aside the assessment order with the following observations: "After going through the case records and also the written arguments of the assessee, I find that the order of the ITO under s. 143(3) dt. 19th June, 1978 for the asst. yr. 1978-79 is erroneous and prejudicial to the interest of revenue as discussed above and the assessment is accordingly set aside." Hence the instant appeal by the assessee on the grounds mentioned above. It was contended on behalf of the assessee that there was no error in the assessment order and, therefore, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may expressly be the subject-matter of the appeal, but also those which may have gone in favour of the assessee and which have not been challenged by the revenue. In the present case, the ITO upheld the claim of the assessee with regard to the development rebate and depreciation on the finding that it was engaged in a petro-chemical industry. This finding could have canvassed before the AAC in the appeal filed by the assessee on other points, if the Department chose to do so. In view of the scope and nature of the appellate power, the entire subject-matter of the assessment order was within the jurisdiction of the AAC. That being so, the entire assessment order merged in the appellate order, irrespective of the points urged by the parties o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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