Principal Commissioner Of Income Tax 8 vs M/S Yes Bank Ltd

The Supreme Court held that the High Court erred in dismissing the Income Tax Department's appeal without framing a substantial question of law as required under Section 260-A of the Income Tax Act, 1961. The Court emphasized that the applicability of Section 35-D to the respondent-Bank was a critical issue that remained undecided. Consequently, the Court set aside the High Court's order and remanded the case for a fresh decision on merits, ensuring that all relevant questions are addressed appropriately.