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TMI Blog2018 (8) TMI 522X X X X Extracts X X X X X X X X Extracts X X X X ..... on merits, inter-alia, taking into account the material and case laws which has been already filed by the petitioner's during the hearing leading to the order dated 13th February, 2015. In view of the peculiar facts of the present case, we are not only setting aside the impugned order dated 4th May, 2018 but also the order dated 13th February, 2018 to the extent it dismissed the petitioner's Appeal before it. This for the reason that, we find the order dated 13th February, 2015 in the context of the material available on record, to be a non-speaking order as it gives no reasons to reject the appeal in the context of the decisions admittedly relied upon at the hearing by the petitioners. - Writ Petition No. 1833 of 2018 - - - Dated:- 3-8 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e P. Ltd., Criticare Marketing P. Ltd, Ziwani Barter P. Ltd and Deveraj Mercantile (P) Ltd. were not genuine investment in shares and therefore hit by Section 68 of the Act. At the time of regular hearing of the Appeal on 27th November, 2014, the petitioner had filed detailed written submissions making a reference to various case laws in support of their case and also a paper-book indicating the identity, creditworthiness and genuineness of the investments made by the above five corporate entities in the shareholding of the respondent-Company. The Appeal was heard on 27th November, 2014 and the order was passed by the Tribunal dismissing both the Revenue's, as well as, the petitioner-assessee's Appeal on 13th February, 2015. This ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se that the shareholding investment by the five Companies was genuine. In the above view, the Tribunal ought to have allowed the petitioner's Rectification Application and considered the petitioner's Appeal before it on merits, inter-alia, taking into account the material and case laws which has been already filed by the petitioner's during the hearing leading to the order dated 13th February, 2015. 7. In view of the peculiar facts of the present case, we are not only setting aside the impugned order dated 4th May, 2018 but also the order dated 13th February, 2018 to the extent it dismissed the petitioner's Appeal before it. This for the reason that, we find the order dated 13th February, 2015 in the context of the materi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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