Held, that the Tribunal in fact had not recorded any independent finding or reasons in respect of both the grounds raised by the assessee and thus, the order of the Tribunal to the extent it related to the assessment year 2004-05 was violative of the principles of natural justice being non-speaking. It was not valid. The Appellate Tribunal should give reasons for its order. A non-speaking order not only prevents adversely affected persons from knowing the exact reasons behind the conclusion arrived at but also disables the aggrieved person from effectively availing of remedy before the higher forum. (AY.2004-05, 2007-08, 2008-09)