Allowing the appeal of the revenue the Court held that , that firstly, the High Court did not frame any substantial question of law as required under section\u00a0260A\u00a0of the Act though it heard the appeal bipartite. In other words, the High Court did not dismiss the appeal in limine on the ground that it did not involve any substantial question of law. Secondly, the High Court dismissed the appeal without deciding any issue arising in the case saying that it was not necessary. Thirdly, the main issue involved in this appeal with regard to the applicability of section\u00a035D\u00a0of the Act to the assessee was not decided. The High Court should have framed the substantial question of law on the applicability of section\u00a035D\u00a0of the Act in addition to other questions and then answered them in accordance with law. Since the issue with regard to applicability of section\u00a035D\u00a0of the Act to the assessee was already pending consideration before the High Court in appeal, both the appeals should be decided together.( AY. 2007 -08)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 260A : Appeal – High Court – Revision \u2014 Amortisation of preliminary expenses \u2014 Bank \u2014 Expenses in relation to initial public offer \u2014Revision was quashed by appellate Tribunal and up held by High Court \u2013 Matter remanded to High Court to frame question of law and decide the matter .[ S. 35D, 263 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5198","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1lQ","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=5198"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5198\/revisions"}],"predecessor-version":[{"id":5866,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/5198\/revisions\/5866"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=5198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=5198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=5198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}