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TMI Blog2015 (5) TMI 312X X X X Extracts X X X X X X X X Extracts X X X X ..... NO.137/2008 - - X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee had transferred a part of business as a going concern to M/s. Praxair Carbondioxide Pvt. Ltd. and the consideration received was not offered to tax. Notice under section 148 was issued to the assessee on April 8, 2002, after recording the reasons for reopening. In response to the said notice, the assessee furnished the details as called for. Thereafter, the assessing authority found that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... referring to various judgments and also sale which took place in the case of sister concern and the orders passed in respect of the said assessment years, held that the facts in the present case are identical. But in the case of the sister concern, M/s. CICB Chemicon Pvt. Ltd., the Tribunal has issued a direction to consider the liability and the capital gains, on the basis of that, it is a case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o. (Land Department) [1965] 57 ITR 299 (SC) and also the decision of the jurisdictional High Court in the case of Syndicate Bank Ltd. v. Addl. CIT [1985] 155 ITR 681 (Karn). Therefore, it affirmed the findings of the first appellate court. It is against the said order of the Tribunal, the appeals are filed. From the aforesaid facts, it is clear that two appellate courts on consideration of the ent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there is express provision on settling the legal provisions one cannot hold that the implication or a right of cross-objection should be read into either the provisions of Order 42 read with sections 100 and 108 of the Code of Civil Procedure or under the provisions of sub-section (7) of section 260A of the Income-tax Act. Therefore, it is held that the cross-objection is not maintainable under se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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