The Tribunal has no power to exceed an order of remand by the High Court. Tribunal must decide issues raised in appeal. Tribunal has no power to declare Transaction illegal under different statute. Reinsurance payments to non-Residents is not prohibited by law. Matter remanded to decide accordance with law. The Tribunal had no jurisdiction to declare any provisions of the regulations to be inconsistent with the provisions of the Insurance Act. This was wholly outside the purview of the Tribunal. The Tribunal did not consider the correctness of the order passed by the Assessing Officer or that of the Commissioner (Appeals). Therefore, the Tribunal could not have held that the Assessing Officer rightly disallowed the reinsurance premium under section 40(a)(i). This finding was not supported with any reasons. (AY. 2009 -10)

Note : Order in   Dy CIT v. Cholamandalam Ms General Insurance Co. Ltd. (2018) 12 ITR (Trib.)-OL 540 (Chennai)(Trib.) is set aside and matter remanded.