Case Law Details
Pr. CIT Vs M/s Yes Bank Ltd. (Supreme Court of India)
The main issue involved in this appeal, as rightly taken note of by the High Court in para 6, was with regard to the applicability of Section 35-D of the Act to the respondent assessee(Bank). It was, however, not decided.
In our view, the High Court should have framed the substantial question of law on the applicability of Section 35-D of the Act in addition to other questions and then should have answered them in accordance with law rather than to leave the question(s) undecided.
It was brought to our notice that the issue with regard to applicability of Section 35-D of the Act to the respondent Bank is already pending consideration before the High Court at the instance of the respondent in one appeal. If that be so, both the appeals, in our view, should be decided together.
It is for all these reasons, we are of the view that the impugned order is not legally sustainable.
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