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2013 (10) TMI 780 - AT - Income TaxRevision u/s 263 - Disallowance of expenditure - Carried forward loss and depreciation - Held that:- issue with regard to carried forward losses and depreciation was not discussed by the assessing officer in the assessment orders. In fact the application of mind by the assessing officer to the issue of carried forward losses and depreciation is not reflected in the assessment order. The only contention of the assessee before this Tribunal is that the assessing officer has called for all the details and allowed the claim after satisfaction. This Tribunal is of the considered opinion that assessment order is a quasi judicial order and the proceedings before the assessing officer are judicial proceedings. Therefore, the conclusion reached by the assessing officer with regard to carried forward losses and depreciation has to be supported by his own reasoning in the assessment order itself. Mere calling for explanation / details is not sufficient. If the assessing officer expressed his reasoning one way or the other for the conclusion reached, then it would enable the appellate / revisional authority to appreciate the reasons for the conclusion reached. If the assessing officer does not express any reason in the assessment orders, the very purpose of providing appellate / revisional remedy in the Income-tax Act would be defeated. Therefore, an assessment shall speak for itself. In other words, it shall contain all the reasons for the conclusion reached therein - assessing officer has not applied his mind to the issue raised by the assessee; therefore, the non application of mind to the issue raised by the assessee with regard to carried forward losses and depreciation is an error within the meaning of section 263 of the Act - Decided against assessee.
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