Appellate Tribunal – Natural justice -Reasoned order- Judgement cited but no reference found in the order, nor any discussion with respect to rival submission found in the order- One of the salutary requirements of natural justice is spelling out reasons for the order made, in other words, a speaking out- Order of Tribunal set aside .
Indian Succession Act , 1925
S.302: Order – Probate – Interpretation – Order passed without jurisdiction is nullity- Though the order is passed by consent -Principle of resjudicata does not apply –
The question arose for consideration was in respect of application filed u/s. 302 of the Indian Succession Act 1925.
10A : Free trade zone – Computation of deduction – loss of another unit – cannot – Set off against profit of unit eligible for deduction- Deduction in respect of eligible unit has to be allowed before setting off brought forward depreciation and losses of a non-10A unit .[ S.72 ]
S. 271(1)(c) : Penalty – Concealment – Depreciation- Claim was withdrawn in the course of search proceedings- Deletion of penalty by the Tribunal is held to be justified. [S.32, 132(4), 153A]
S.271(1)(c): Penalty -Concealment -Search – There was no addition to the declared income in any of the years- Deletion of penalty is held to be justified [ S.132 , 153C ]
S. 263 : Commissioner – Revision of orders prejudicial to revenue – Commissioner could not take cognizance of an issue which had already attained finality in regular assessment- Where no enquiry was made to as regards gift , revision is held to be valid . [ S.56(2), 147 ].
S. 263 : Commissioner – Revision of orders prejudicial to revenue – Limited scrutiny – AO is bound to make prima facie enquiry – Revision is held to be valid – Capital or revenue – On merit foreign exchange loss for acquiring capital asset is held to be allowable as revenue expenditure [ S. 43 (1), 143(1) ]
S.260A : Appeal to High Court – Limitation – Delay of 318 days -No reasonable explanation for delay – Delay was not condoned.
S. 194C : Deduction at source – Contractors -Placement fees/carriage fees – work contract and not fees for technical service [ S.194J ]
S.147: Reassessment – Subject matter of appeal- Merger – Bad debt – Matters which are subject matter of appeal, reference or revision cannot be reopened [ S. 36(1)(vii) ,37(1) , 148, 251 ]