DIT Vs. BRARAT DIAMOND BOURSE

JUDGEMENT

(1.) Leave granted.

(2.) The High Court had disposed of the appeal filed by the appellant on 18.02.2002 by holding that the issues raised in the appeal were covered by the judgment of the High Court in the case of Director of Income-tax (Exemptions) V/s. Bharat Diamond Bourse, 2000 245 ITR(Bom) 4371. The decision relied upon by the High Court has since been overturned by this Courts decision given in CA. Nos. 8211-8212/2001, between the same parties on 16.12.2002 and 249 ITR 280 (sic).

(3.) The learned counsel appearing on behalf of the respondent has, however, sought to reopen the issues determined by our decision by seeking to contend that the decision was incorrect. We are not prepared to allow the respondent to reopen the issues which have been conclusively held against it. In the circumstances, following the decision of this Court 249 ITR 280 (sic) we allow these appeals without any order as to costs. We make it clear that we are limiting this decision strictly to the subject-matter of the appeal filed before the High Court. Therefore, if the subject-matter of the appeal before the High Court was based on the limited findings of the Commissioner, while affirming the order of the High Court we leave the issues not decided by the Commissioner, if any, open.