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TMI Blog2011 (12) TMI 636X X X X Extracts X X X X X X X X Extracts X X X X ..... assessees, hence, for the sake of convenience both these appeals are disposed of by this common order. 3. In ITA No.4362/Del/2010 the return declaring nil income was filed by the assessee which has been assessed at an income of ` 14,20,22,828/- by making additions in respect of depreciation on acquired business data base and adjustment made on account of arm s length price. The order passed by the Assessing Officer is dated 26th July, 2010 under the provisions of Section 143(3)/144C(1). The assessment order has been passed after draft assessment order passed by the Assessing Officer which has been confirmed by the DRP vide order dated 24th May, 2010. In the appeal it is the case of the assessee that the order passed by DRP is bad in law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the case of the learned AR that various objections were raised before DRP which were required to be considered and decided by way of a speaking order and this process having not adopted by the DRP, the matter should be restored back to the file of DRP. Reference in this regard was made to the decision of Hon ble jurisdictional High Court in the case of Vodafon Essar Ltd. vs. Dispute Resolution Panel-II 240 CTR 263 (Del) wherein it has been held that when a quasi judicial authority like the DRP deals with a lis u/s 144C of the Act, then, it is obligatory on its part to ascribe cogent and germane reasons as the same is heart and soul of the matter and also facilitates appreciation when order is called in question before superior forum. 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is bound to follow the directions of DRP. When the order of DRP does not indicate the cogent and germane reasons for rejecting the objections of the assessee and simply relied upon the order passed by the TPO, then, it cannot be said that a speaking order has been passed by DRP. Therefore, we are of the opinion that the orders passed by DRP in both the cases do not meet the requirements of law as the DRP is a quasi judicial authority and is under an obligation to provide cogent and germane reason for deciding the issues in favour of or against the assessee. Therefore, we restore both these appeals to the file of DRP to re-adjudicate all the issues raised before it after providing the assessee a reasonable opportunity of hearing and after ..... X X X X Extracts X X X X X X X X Extracts X X X X
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