2001 (3) TMI 7

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..... the sale of units of the HUF of which the assessee was a coparcener? 3. Whether, Tribunal was correct in law in setting aside the order of the Revenue authorities and directing the Assessing Officer to delete all the additions in the hands of the individual assessee?" - Tribunal's conclusions cannot be termed as perverse. Even if the Revenue's stand that a different view was available to be drawn .....

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..... pted by the assessee with regard to the sale of units of the Hindu undivided family of which the assessee was a coparcener? 3. Whether, on the facts and in the circumstances of the case, the Tribunal was correct in law in setting aside the order of the Revenue authorities and directing the Assessing Officer to delete all the additions in the hands of the individual assessee?" It is to be noted .....

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..... ces of the evidence on record there was no material on record to assume jurisdiction for initiation of proceedings under section 148 of the Act and the jurisdiction so assumed was arbitrary and based on no valid material. It was further pointed that it was legitimate tax planning of the assessee and not a colourable device so as to avoid payment of tax. So far as the second question is concerned, .....

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..... opted to reduce the incidence of tax. There are three annexures to the order passed by the Tribunal. When these are read conjointly with the conclusions of the Tribunal, the position is crystal clear that the Tribunal's conclusions cannot be termed as perverse. Even if the Revenue's stand that a different view was available to be drawn, is accepted that would not be a ground for holding that a que .....

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..... ant materials or left out of consideration relevant material, a question of law is involved. When the Tribunal acts partly on relevant and partly on irrelevant materials and it is not possible to say as to what extent the irrelevant material influenced the mind of the Tribunal, a question of law is involved. (5) When the finding is one of fact, the fact that it itself is an inference from other .....

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