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TMI Blog2013 (11) TMI 282X X X X Extracts X X X X X X X X Extracts X X X X ..... me has to be considered as accumulated profits in the hands of the assessee bringing the same within the meaning of Section 2(22)(d) of the Income-tax Act – Held that:- Legal question can be raised at the stage of the appeal and such a question need not be raised as a ground. It can be argued by a counsel at the time of hearing. When the legal question is raised, the Tribunal has to consider the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2004-05. The appellant filed the return of income on 4.10.2004 declaring the total income of Rs. 12,01,960/-. The order of assessment came to be passed on 15.11.2006 and came to the conclusion that the amount paid by the company to purchase the shares from the shareholders amounts to distribution of dividends and the same has to be considered as accumulated profits in the hands of the assessee br ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come Tax (Appeals). The said question was raised for the first time before the Income Tax Appellate Tribunal, Bangalore. The Income Tax Appellate Tribunal did not consider the said question on the ground that the said point was not canvassed before the Commissioner for Income Tax (Appeals) and the same was not raised as a ground in the appeal memo. Accordingly the appeal filed by the assessee came ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he appellant. The legal question can be raised at the stage of the appeal and such a question need not be raised as a ground. It can be argued by a counsel at the time of hearing. When the legal question is raised, the Tribunal has to consider the same in accordance with law. In the instant case the Tribunal has committed an error in not considering the question of law raised by the appellant. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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