2007 (10) TMI 245

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..... f the Tribunal be set aside – hence reference is returned unanswered by setting aside the order of the Tribunal, and remanding the matter back to the Tribunal - 70 of 2008 - - - Dated:- 3-10-2007 - F.I. REBELLO and J.P. DEVADHAR JJ P.S. Sahadevan for the Commissioner. Nilesh Joshi with Ms. Nikitha Narsena, instructed by Dhru and Co., for the respondent JUDGMENT The judgment of th .....

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..... in the circumstances of the case, the limits laid down in section 40(c) or those laid down in section 40A(5) are applicable in case of directors who are employed ?" Question at the instance of the assessee : "Whether the Tribunal was not right in sustaining the addition of Rs. 1,60,000 in the assessment for 1978-79 ; Rs. 1,40,000 in the assessment for 1979-80 as income derived from extract .....

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..... the Commissioner of Income-tax (Appeals) was justified in holding that the proviso to section 145 of the Income-tax Act, 1961, was applicable or not. Though the Tribunal has forwarded a statement of the case to that effect, on perusal of the order passed by the Tribunal it is seen that there is no specific finding recorded to that effect. In this view of the matter, counsel on both the sides agree .....

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