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TMI Blog2015 (2) TMI 904X X X X Extracts X X X X X X X X Extracts X X X X ..... excise duty has to be treated as deemed profit. In that view of the matter, the above decision of the hon'ble Supreme Court, the judgment which is sought to be relied upon by the Tribunal in the case of CIT v. Bharat Iron and Steel Industries reported in [1992 (1) TMI 40 - GUJARAT High Court] is reversed. - Decided in favour of revenue. - TAX APPEAL NO. 4 of 2001 - - - Dated:- 10-11-2014 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cts of the present case are that the return of income was filed on September 29, 1989, showing the total loss of ₹ 90,15,050 along with copies of audited accounts tax audit report and Form No. 3CD. A revised return was filed on December 31, 1990, enhancing its loss at ₹ 1,05,52,120. In the statement filed along with the revised return, the assessee has stated that in the original retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etails have not been filed by the assessee. Therefore, the assessment order came to be passed. Against the said assessment order, the assessee has preferred an appeal before the Commissioner of Income-tax (Appeals), Ahmedabad, which has been partly allowed. Against the said order of the Commissioner of Income-tax (Appeals), the Revenue has preferred an appeal before the Tribunal which was partly a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at view of the matter, the other questions which were posed before the Tribunal are not answered, and, therefore, the matter is required to be remanded to the Tribunal. The question raised in this appeal is answered in favour of Department and against the assessee. The matter is remanded back to the Tribunal to decide other questions which are not decided by the Tribunal. The appeal is allowed to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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