COMMISSIONER OF INCOME TAX Vs. DALURAM MANGILAL

JUDGEMENT

(1.) HE is heard on the question of admission of the appeal which has been preferred under Section 260a of the IT Act, 1961, against the order dt. 7th Feb. , 2003, passed by the Tribunal, Indore Bench, Indore, in ITA 461/ind/1995 relating to the asst. yr. 1991-92 and C. O. No. 35/ind/95 (arising out of ITA No. 461/ind/95 relating to the asst. yr. 1991-92. Learned counsel for the Revenue brought to our notice the extract of the decision of the Supreme Court between the same parties in SLP (Civil) No. 159 of 2002 and RP No. 198 of 2002, decided on 18th Jan. , 2002. The extract has been reproduced in (2002) 255 ITR (St) 99 under the heading "from Our Reporter at the Supreme Court". As per the extract, Hon'ble the Supreme Court has held that additions made on account of sales and purchases made in the market area which have been found to be bogus by the AO, were rightly added to the income of the assessee. The order of the AO was upheld, while dismissing the ITA No. 39/2001, by this Court against which the assessee preferred the aforesaid S. L. P. which too has been dismissed by the Supreme Court on 18th Jan. , 2002, as stated above.

(2.) SHRI Jain, learned counsel for the Revenue submitted that the review filed by the assessee against the decision of the Supreme Court has also been dismissed. After the decision of the Supreme Court, it appears that the assessee filed an application under Section 254 (2) of the IT Act, which has been allowed by the Tribunal by order dt. 15th Nov. , 2002 and the Tribunal recalled its earlier order and posted the matter for hearing on merits. Ultimately by the order impugned passed on 7th Feb. , 2003, the. Tribunal dismissed the appeal preferred by the Revenue, but allowed the cross-objections of the assessee.

(3.) FROM the perusal of the order impugned, it is clear that the said order has been passed by the Tribunal in the total ignorance of the decision of the Supreme Court, as mentioned above. This in our considered opinion, would be a fit case in which the Revenue should file an application under Section 254 (2) of the IT Act and bring to the notice of the Tribunal the decision of the Supreme Court so that the Tribunal may pass appropriate order in accordance with the provisions of law and the law laid down by the Supreme Court.