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2015 (9) TMI 1052 - PUNJAB & HARYANA HIGH COURTGenuineness of the deposits and withdrawals made by the assessee in his bank accounts - revision order u/s 263 of CIT(A) set aside by ITAT observing that he was not justified in cancelling the assessment made by the Assessing Officer under Section 143(3) - Held that:- The entirety of the facts were required to be gone before upsetting the order of the CIT by the Tribunal. Further, the order dated 30.7.2012 (Annexure A-3) passed by the Tribunal is not a speaking order giving detailed reasons allowing the appeal of the assessee except mentioning that once having examined the source of deposits, the CIT cannot be given power to give his opinion and direct the Assessing Officer to write the order as per the desires of the CIT. It was also noticed that even if inadequate examination or enquiry had been conducted by the Assessing Officer, the CIT cannot direct the Assessing Officer to re-write the order or to make the enquiry again. The Tribunal being final fact finding authority was required to deal with all aspects of factual matrix and then record its conclusions based thereon. Thus the order of ITAT does not satisfy the requirements of being a reasoned order as enunciated by the Apex Court in M/s Kranti Associates Pvt. Ltd's case (2010 (9) TMI 886 - SUPREME COURT OF INDIA), noticed herein above - matter is remanded to the Tribunal for fresh adjudication - Decided in favour of revenue for statistical purposes.
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