RAMGOSRI CONSTRUCTIONS P. LTD. Vs. INCOME-TAX OFFICER

JUDGEMENT

(1.) THE question of law raised in these tax case appeals is as follows: Whether in an assessment proceedings particularly under Section 148 of the Income -tax Act, 1961, mere suspicions, surmises and conjectures on the part of the Assessing Officer in denying the set off of losses of business income without considering the weight of evidence submitted before it is sufficient for the Tribunal to remit the matter back for fresh ascertainment of facts when all the materials were available before it on record?

(2.) THE learned senior Counsel appearing for the appellant would submit that the Tribunal was not correct in coming to the conclusion that the matter should be remitted to the Assessing Officer with a specific direction to find out whether the assessee has temporarily suspended its business and actually incurred the expenditure.

(3.) THE Commissioner of Income -tax (Appeals) allowed the appeals filed by the assessee partly. Against that both the Revenue and the assessee filed appeals before the Income -tax Appellate Tribunal.