Allowing the appeal of the revenue the Court held that the Tribunal had not decided the issue on the merits and ought to have adjudicated the issue with regard to unexplained credits to the tune of Rs. 50,00,000 and Rs. 65,10,000. The Tribunal was not correct in annulling the reassessment made protectively under section 147 for the assessment years 1996-97 and 1997-98 holding them as infructuous and the order passed by the Tribunal was quashed. The matter was remitted to the Commissioner (Appeals) to determine the issue afresh with regard to the unexplained cash credits.  (AY. 1996-97, 1997-98)