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TMI Blog2012 (7) TMI 774X X X X Extracts X X X X X X X X Extracts X X X X ..... ness of things, the proper course herein would be to set aside the orders of the Tribunal in these appeals also and remand the matter back to the Assessing Authority to consider the claim of the assessees along with the claim of the other assessees – matter remanded - Tax Case (Appeal) Nos.1081 and 1082 of 2005 - - - Dated:- 4-6-2012 - Mrs.Justice CHITRA VENKATARAMAN, Mr.Justice K.RAVICHANDRA BAABU, JJ. For appellants : Mr.C.V.Rajan For respondent : Mr.T.R.Senthil Kumar Standing Counsel O R D E R CHITRA VENKATARAMAN, J. The appeals have been filed by the assessees who happened to be brothers, against the order of the Income Tax Appellate Tribunal relating to the assessment year 1995- 96. The following are the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessment had been held against the assessees. Learned counsel appearing for the assessees placed before this Court, the copies of the orders of the Tribunal made in I.T.A.No.328/Mds/2000 dated 16.2.2007 and I.T.A.Nos. 1295 1296 /Mds/2000 dated 22.8.2005 in respect of one Ravi Prakash Khemka and Smt.Champa Devi who are all parties to the family arrangement, under which, allotment of shares had taken place. Even though a ground was taken before the Tribunal as to this order and family arrangement, as has been taken in the present case, without adverting to the same, the Tribunal has erroneously held against the assessees that the assessees have not given any explanation on the source of investment in the shares. Thus, learned counsel for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... esult, the assessment was remanded back to the Assessing Officer for the purpose of considering the claim of the assessee as regards the source of acquisition of shares. The said order was once again followed by the Tribunal in the case of Ravi Prakash Khemka and others by its order dated 16.2.2007. That being the case, we do not think that the present case before us should suffer a different treatment. It is no doubt true that the order passed by the Tribunal in respect of the present appeal is dated 16.6.2005, yet, when a specific ground was taken by the assessees as regards the source of investment for purchase of the shares on the basis of the family arrangement, the Tribunal should have at least adverted to those facts before passing o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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