DATTANI AND CO. Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) AS common question of law and facts arise in this group of Appeals, they are disposed of by this common order. All these Tax Appeals have been preferred by the common appellant -assessee challenging the common impugned judgement and order passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot in ITA Nos. 1249 to 1252 of 2010 with respect to Assessment Years 2002 -03, 2004 -05 and 2006 -07.

(2.) Considering the fact that the decision of this Court in the case of Commissioner of Income Tax v. President Industries (supra), which was relied upon by the assessee, was cited and pointed out before the learned tribunal, the learned tribunal at least ought to have considered and dealt with the same. From the written submissions, it also appears that the aforesaid decision was cited before the learned tribunal. From the impugned Judgement and Order passed by the learned tribunal it appears that the learned tribunal has not considered and/or dealt with the aforesaid decision relied upon by the assessee at all.

(3.) Whenever any decision has been relied upon and/or cited by the assessee and/or any party, the authority/tribunal is bound to consider and/or deal with the same and opine whether in the facts and circumstances of the particular case, the same will be applicable or not. In the instant case, the tribunal has failed to consider and/or deal with the aforesaid decision cited and relied upon by the assessee. Under the circumstances, all these appeals are required to be remanded to the tribunal to consider the addition made by the Assessing Officer towards alleged bogus purchases/sales and to take appropriate decision in accordance with law and on merits and after considering the decision of this Court in the case of Commissioner of Income Tax v. President Industries reported in : 258 ITR 654. However, it is clarified that we have not expressed any opinion on merits whether in the facts and circumstances of the case, the decision of this Court in the case Commissioner of Income Tax v. President Industries (supra) will be applicable or not. It is ultimately for the learned tribunal to consider the same in the facts and circumstances of the case. With this, all these appeals are allowed in part and the same are remanded to the learned tribunal to consider the issue with respect to addition made towards alleged bogus purchases/sales and to consider the decision of this Court in the case of Commissioner of Income Tax v. President Industries reported in : 258 ITR 654. As stated hereinabove, so far as Question nos. 2 and 3 are concerned, by our earlier order dtd. 1/10/2013 we have already dismissed the present appeals. Present appeals are allowed in part to the aforesaid extent only.