An appellate authority has every right to remand a matter on a specific point if the mistake of the authority below is limited to that very point and, in such a situation, there is no necessity to pass an order of a fresh assessment on all points, as held by KolHC in Surajmall Lalchand & Sons v ACIT-XI — In favour of: The revenue; ITA No 3 of 2003.
The Tribunal, while remanding the matter, was justified in issuing directions to the AO to ascertain whether the borrowed funds have been diverted to interest-free advances by the assessee partnership firm carrying on the business of giving loans and advances for a claim of a deduction under s 36(1)(iii).
Decided on: 12 August 2011.
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