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2013 (6) TMI 476 - AT - Income TaxJurisdiction power u/s 263 by CIT(A) - Commuted value of pension paid directly to the retired Employees paid by direct debit to the P&L A/c have been disallowed on account of the fact that it was not allowable as an expenses u/s. 37 (General Clause), Contribution to Pension Fund of Rs. 25 crores was made in violation to Rule 3 of Part 8 of IVth Schedule and Provision for gratuity payment was made being in violation of 40A(7)(a) - Held that:- As it was not shown that the AO did examine the issues pointed out by CIT and has taken a plausible view on them. Referring to the decision of Toyoto Motor Corporation (2008 (4) TMI 231 - DELHI HIGH COURT) wherein held that the proceedings before the AO are quasi judicial proceedings and a decision taken by the AO in this regard must be supported by reasons also being approved by the Hon'ble Supreme Court in(2008 (8) TMI 56 - SUPREME COURT) with the observation that AO should pass a reasoned order. These decisions clearly bring out that the assessment order should be passed with or contain proper reasons on various issues. In the instant case, admittedly, no discussion in the assessment order on the issues pointed out by CIT. Thus no infirmity in the revision order passed by CIT and accordingly upheld. Against assessee.
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