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TMI Blog2017 (4) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... fact finding authority was required to deal with all aspects of factual matrix and then record its conclusions based thereon. Mere concurrence with the view expressed by the CIT(A) is not sufficient and the Tribunal was required to record the reasons for dismissing the appeal. In view of the above, the order of ITAT 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), noticed herein above. Thus, the substantial question of law stands answered accordingly. Consequently, after setting aside the order of the Tribunal the matter is remanded to the Tribunal for fresh adjudication after affording an opportunity of hearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ucture and manpower and, therefore, was not manufacturing the entire produce at its unit at Gagret in Himachal Pradesh but was also getting job work done at Jalandhar (Punjab)? (ii) Whether on the facts and in law, the Hon'ble ITAT is justified in allowing deduction u/s 80IC of the Income Tax Act, 1961, @ 100% of its profit ignoring the finding of the Assessing Officer that sister concerns of the assessee, doing the same business outside the State of Himachal Pradesh were showing lesser profit? 3. The facts, in brief, necessary for adjudication of the instant appeal as narrated therein are that the assessee derives income from printing business. A search and seizure operation under Section 132 of the Act was conducted in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsel for the appellant submitted that the Tribunal while affirming the findings of the CIT(A) had not passed the reasoned speaking order which is the mandate as laid down by the Apex Court. 5. On the other land, learned counsel for the assessee supported the order passed by the Tribunal. 6. After hearing learned counsel for the parties, we find merit in the submission of learned counsel for the revenue. 7. The Apex Court in M/s Kranti Associates Pvt. Ltd. and another v. Sh. Masood Ahmed Khan and others, (2010) 9 SCC 496 while dealing with the requirement of passing a reasoned order by an authority whether administrative, quasi judicial or judicial, had laid down as under:- 17. The expression 'speaking order' was fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iples 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-judicial opinions these days can be as different as the judges and authorities who deliver them. All these decisions serve one common purpose which is to demonstrate by reason that the relevant factors have been objectively considered. This is important for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay 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 . 8. According to the revenue, there was a search on the assessee's premises on 22.1.2009 and certain incriminating material was found. On the basis of the said material, the Assessing Officer had held that 100% of the work of the assessee had not been done at Gagret (Himachal Pradesh) and, therefore, allowed deduction under Section 80IC of the Act, @ 20% of the profit from manufacturing. However, the CIT(A) allowed deduction under Section 80IC of the Act @ 100% of the profit and gain. The entirety of the facts was required to be gone int ..... X X X X Extracts X X X X X X X X Extracts X X X X
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