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| The Tax Publishers2019 TaxPub(DT) 8033 (SC) : (2020) 269 TAXMAN 0273 INCOME TAX ACT, 1961
Section 261 Section 37(1)
Where the assessee preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. M/s. Meerut Roller Flour Mills (P) Ltd. [Income Tax Appeal No. 284 of 2017, dt. 17-1-2019] : (2019) 412 ITR 155 (All) : 2019 TaxPub(DT) 1929 (All-HC), whereby the High Court held that Tribunal being the last court of fact and law ought to have considered the materials on record, especially when it was on record that the said party had not filed the return of income, that the Tribunal was swayed away by the contention of assessee, but lost sight of the fact that the Revenue also raised the issue of addition on account of non-genuine purchases, therefore, the impugned order was set aside and the matter was remanded back to the Tribunal to rehear the matter afresh and decide the appeal on its merits, the Supreme Court dismissed the SLP.
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Appeal (Supreme Court) - Special leave petition - Business expenditure - Bogus purchases
Assessee preferred SLP to appeal against the judgment of Gujarat High Court in Pr. CIT v. M/s. Meerut Roller Flour Mills (P) Ltd. [Income Tax Appeal No. 284 of 2017, dt. 17-1-2019] : (2019) 412 ITR 155 (All) : 2019 TaxPub(DT) 1929 (All-HC), whereby the High Court held that Tribunal being the last court of fact and law ought to have considered the materials on record, especially when it was on record that the said party had not filed the return of income, that the Tribunal was swayed away by the contention of assessee, but lost sight of the fact that the Revenue also raised the issue of addition on account of non-genuine purchases, therefore, the impugned order was set aside and the matter was remanded back to the Tribunal to rehear the matter afresh and decide the appeal on its merits. Held: The Supreme Court dismissed the SLP.
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