DSP Investment Pvt. Ltd vs. ACIT (Bombay High Court)

In fact the impugned order of the Tribunal in paragraph 6 thereof does record the appellant’s reliance upon the decision of the Court
of its coordinate Bench in J.K. Investors (Bombay) Ltd vs. Assistant Commissioner of Income Tax (ITA No.7858/MUM/2011) decided on 13th March, 2013. However, thereafter the impugned order does not deal with the appellant’s reliance upon the decision of the Tribunal in J.K. Investors (supra) while dismissing the appellant-assessee’s appeal before it. In fact the impugned order of the Tribunal ought to have dealt with its decision in J. K. Investors (supra) and considered its applicability to the present facts. In view of the fact that the impugned order of the Tribunal does not deal with its decision in J. K. Investors (supra) relied upon by the appellant-assessee
in support of its submission as recorded in the impugned order itself makes the impugned order a nonspeaking order and, therefore, in breach of principles of natural justice. The substantial question of law is answered in the affirmative i.e. in favour of the appellantassessee and against the revenue. However, the issue of applicability of Rule 8D of the Rules or otherwise has yet to be determined by the Tribunal. In these circumstances, we set aside the impugned order dated 10th July, 2013 passed by the Tribunal and restore the entire appeal to the Tribunal for fresh disposal in accordance with law. All contentions of both sides left open.