Allowing the appeal of the assessee the Court held that ; the entire data of each transaction was before the Tribunal and nothing prevented it from looking into all the transactions and recording findings of fact-The Tribunal had failed to perform its duty and therefore, its order was unsustainable. The matter was remitted to the Tribunal for decision afresh. ( AY.2007 -08 , 2008 -09)
Jaya Chheda, Legal Heir of Late Hitesh S. Bhagat. v. ACIT (2018) 407 ITR 553 (Bom) (HC)
S. 254(1) : Appellate Tribunal – Duties-Business income or capital gains- Investment in shares- The entire data of each transaction was before the Tribunal and nothing prevented it from looking into all the transactions and recording findings of fact-The Tribunal had failed to perform its duty and therefore, its order was unsustainable. The matter was remitted to the Tribunal for decision afresh. [ S. 28( i), 45 ]