COMMISSIONER OF INCOME TAX Vs. PP ENGINEERING WORK

JUDGEMENT

(1.) BY order dated 27th September, 2012, the following substantial question of law was framed in this appeal by the Revenue which pertains to assessment year 2000 -01:

(2.) THE appeal relates to addition of Rs.32 lakhs under Section 68 of the Income Tax Act, 1961 (Act, in short), which the respondent - assessee had claimed that they had received from Jaconde Overseas Pvt. Ltd. The addition was initially made in the assessment year 2001 -02, but the Tribunal allowed the appeal filed by the respondent - assessee vide order dated 11th September, 2008 recording the following findings:

(3.) AGGRIEVED , appellant -Revenue preferred an appeal before the Tribunal relying upon Section 153 of the Act. It is noticeable that the Commissioner of Income Tax (Appeals) did not refer to Section 150(2) and Section 153, Explanation 2 of the Act. The Tribunal also without referring to the two provisions, held that the assessment order could not be sustained, as the Tribunal had not given any finding or direction in the earlier order dated 11th August, 2008 relating to the assessment year 2000 -01.