The Tax Publishers2020 TaxPub(DT) 5553 (Karn-HC) : (2021) 430 ITR 0426 : (2021) 279 TAXMAN 0189

INCOME TAX ACT, 1961

Section 148

Order passed by Tribunal was passed in a cryptic and cavalier manner and well reasoned order passed by the CIT(A) was set aside without assigning any cogent reasons, therefore, it would be appropriate to quash the order of the Tribunal and to remit the matter to decide the issue with regard to reopening of the assessment afresh by a speaking order.

Reassessment - Claim of deduction under section 80IA - Remand of matter -

Assessee was engaged in the business of filtration process systems and high purity water systems. AO passed an order of assessment under section 143(3) and allowed the deduction claimed under section 80-IA. Thereafter, notice was issued under section 148 by which re-assessment proceedings were initiated and assessee was asked to file the returns in respect of the assessment years in question. AO held that assessee was dealing in imported spare parts and the income arising out this trading act was included in the claim made under section 80-IA. AO passed an order of assessment denying the relief of deduction under section 80-IA. Held: From perusal of extracted portion of the order passed by Tribunal, it was evident that order passed by Tribunal was passed in a cryptic and cavalier manner and well-reasoned order passed by the CIT(A) was set aside without assigning any cogent reasons. Therefore, it would be appropriate to quash the order of Tribunal and to remit the matter to decide the issue with regard to reopening of assessment afresh by a speaking order.

REFERRED :

FAVOUR : Matter remanded.

A.Y. : 1998-99



IN THE KARNATAKA HIGH COURT

SUBSCRIBE TaxPublishers.inSUBSCRIBE FOR FULL CONTENT

TaxPublishers.in

'Kedarnath', 7, Avadh Vihar, Near Nirali Dhani,

Chopasni Road

Jodhpur - 342 008 (Rajasthan) INDIA

Phones : 9785602619 (11 am - 5 pm)

E-Mail : mail@taxpublishers.in / mail.taxpublishers@gmail.com