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TMI Blog2015 (9) TMI 501X X X X Extracts X X X X X X X X Extracts X X X X ..... sed by the Tribunal is not a speaking order giving the detailed reasons dismissing the appeal except mentioning that we find no infirmity in the findings of the CIT (Appeals). The Tribunal being final fact finding authority was required to deal with all aspects of factual matrix and then record its conclusions based thereon. Thus ITAT order set-aside as it does not satisfy the requirements of being a reasoned order as enunciated by the Apex Court in M/s Kranti Associates Pvt. Ltd's case [2010 (9) TMI 886 - SUPREME COURT OF INDIA] - Decided in favour of revenue. - ITA No. 8 of 2015 (O&M) - - - Dated:- 11-8-2015 - MR. AJAY KUMAR MITTAL AND RAMENDRA JAIN, JJ. For The Appellant Mr. Tajender K. Joshi, Advocate For The Respondent Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /-. Being dissatisfied with the order, Annexure A-II, the revenue has filed the appeal before the Tribunal, who vide order dated 30.6.2014 (Annexure A-III) dismissed the said appeal. Hence, the present appeal by the revenue. 3. Learned counsel for the appellant submitted that the Tribunal while reversing the findings of the Assessing Officer and the CIT (A) had not passed the reasoned speaking order which is the mandate as laid down by the Hon'ble Apex Court. 4. On the other land, learned counsel for the assessee supported the order passed by the Tribunal. 5. After hearing learned counsel for the parties, we find merit in the submission of learned counsel for the revenue. 6. The Hon'ble Apex Court in M/s Kranti Associate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . (e) Reasons reassure that discretion has been exercised by the decision maker on relevant grounds and by disregarding extraneous considerations. (f) Reasons have virtually become as indispensable component of a decision making process as observing principles of natural justice by judicial, quasi-judicial and even by administrative bodies. (g) Reasons facilitate the process of judicial review by superior Courts. (h) The ongoing judicial trend in all countries committed to rule of law and constitutional governance is in favour of reasoned decisions based on relevant facts. This is virtually the life blood of judicial decision making justifying the principle that reason is the soul of justice. (i) Judicial or even quasi-judici ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 EWCA Civ 405, wherein the Court referred to Article 6 of European Convention of Human Rights which requires, adequate and intelligent reasons must be given for judicial decisions . (o) In all common law jurisdictions judgments play a vital role in setting up precedents for the future. Therefore, for development of law, requirement of giving reasons for the decision is of the essence and is virtually a part of Due Process . 7. According to the revenue, the assessee had initially claimed that the books of account were lost and the same were not produced on that count. Lateron, the books of account were recovered. However, no date and time etc. were given as to when they were lost and when they were recovered. The entirety of the fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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