- (1.) The subject matter of challenge is a judgment and order dated December 28, 2007 by which the learned Income Tax Appellate Tribunal, "E" Bench, Kolkata, in ITA No.2172 and 2174/Kol/2006, pertaining to the assessment years 1998-99 and 1999-2000, and I.T.(SS) A. Nos.61-63/Kol/2007, pertaining to the assessment years 2001-02, 2002-03 and 2003-04, allowed the appeals preferred by the assessee.
(2.) The aggrieved revenue has come up in appeal.
(3.) The following questions of law were formulated on September 10, 2008: "1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is justified in not holding that all assessments were made under section 143(1) of the I.T. Act, therefore, disallowance as per law were not earlier made. As per section 153(c) of the I.T. Act assessment is to be made afresh and income to be assessed or reassessed. The meaning of reassessment is that there is no need to resort to section 147 of the I.T. Act and to consider the disallowance in the assessment to be made under section 153 of the I.T. Act? 2. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is correct in misinterpreting the CBDT's Circular No.7 as the same applies to assessments made u/ss.143(3), 144 or 147 of the I.T. Act where appeals or rectification application will not abate? 3. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal is correct in law for the fact that the decision of Jharkhand High Court (290 ITR 114) has not been properly interpreted as the same does not deal with a situation where assessment under section 143(1) of the I.T. Act and there is no proposition laid down that disallowance which required to be made if the return was selected for regular assessment under section 143(1) or under section 147 of the I.T. Act would not be made under section 153A of the I.T. Act?" ;