Held that clause (a) of sub-section\u00a0(1)\u00a0of section\u00a0251\u00a0of the\u00a0Income-tax Act, 1961\u00a0obligates the Commissioner (Appeals) to adjudicate the issue either by confirming or annulling the addition or reducing or enhancing the addition made by the Assessing Officer without the right to remand the matter back. However while exercising the jurisdiction under section\u00a0251(1)(a)\u00a0of the Act, the Commissioner (Appeals) is required to state point of determination, his decision thereon and clear reasons therefor in terms of section\u00a0250(6)\u00a0of the Act. This exercise by the Commissioner (Appeals) is a prerequisite and invariably necessary for each assessment year in each case irrespective of repetition. This is because in taxation each assessment year per se is a separate unit which is governed by its own peculiar facts and the principle of res judicata is inapplicable in fiscal laws. Therefore any adjudication in taxation is final utterly for the year of adjudication only and it does not govern any later or subsequent year.\u00a0 The matter is remanded to the file of CIT(A) to pass a speaking order in terms of section 250(6). Referred Chandra Kishore Jha v. Mahavir Prasasd (1999) 8 SCC 266. (AY.2012-13)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 250 : Appeal-Commissioner (Appeals)-Procedure-Duty-Duty to state point for determination, his decision thereon and clear reasons therefor-Transfer pricing-International transactions-Arm\u2019s length price-Not analysing quid pro quo from evidence brought on record and recording independent findings thereon-Order is set aside and matter remanded to CIT(A) for passing speaking order.[S.92CA(3), 250(6), 251(1)(a)] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50413","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-d77","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50413"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50413\/revisions"}],"predecessor-version":[{"id":50414,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50413\/revisions\/50414"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}