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TMI Blog2013 (4) TMI 144X X X X Extracts X X X X X X X X Extracts X X X X ..... l question of law since we are of the view that the order of the Tribunal, if appropriately construed, leaves open all questions to be decided by the Assessing Officer, including on the applicability of the decision of this court in the case of Prime Securities Ltd. [2010 (12) TMI 475 - BOMBAY HIGH COURT] - Decided against the revenue. - ITA NO 198/12 - - - Dated:- 3-4-2012 - CHANDRACHUD D. Y. DR. and DHANUKA R. D. JJ. For Appellant A.R. Malhotra For Respondent F.V. Irani with Atul K. Jasani. Judgment: 1. This appeal by the Revenue under section 260A of the Income-tax Act, 1961, arises from a decision of the Income-tax Appellate Tribunal dated July 27, 2010. The assessment year to which the appeal relates is the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned by the judgment rendered today by this court in companion Income Tax Appeal 206 of 2012 for the assessment year 2002-03 (since reported in CIT v. Kotak Securities Ltd. (No. 1) [2012] 346 ITR 349 (Bom)). In view of this state-ment, the first question will not raise any substantial question of law. 3. As regards the second question, both counsel appearing on behalf of the Revenue and counsel appearing on behalf of the assessee state that the issue will stand covered in favour of the assessee and against the Revenue by the judgment of this court in CIT v. Shreyas S.Morakhia Income Tax Appeal 89 of 2011, decided on February 28, 2012-since reported in [2012] 342 ITR 285 (Bom). In view of the statement, question (ii) will not raise any sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 16, 2011, with a specific observation that the peti-tion was dismissed on the facts of the case, leaving the question of law open. In the present case, it has been urged that the Assessing Officer does not have the power to waive or remit interest by virtue of section 234B since the jurisdiction to do so is only conferred upon the Chief Commis-sioner of Income-tax and the Director General by instructions of the Central Board of Direct Taxes, dated June 26, 2006. The Tribunal, as noted above, has considered it appropriate to restore the issue back to the Assessing Officer on the ground that neither the Assessing Officer nor the Commissioner of Income-tax (Appeals) has considered as to whether there was a default on the part of the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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