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2014 (2) TMI 1062 - AT - Income TaxPower of the CIT(A) to set aside - Whether the CIT(A) erred in directing the AO to recalculate the disallowance u/s 14A of the Act – Held that:- The power to set aside which earlier vested with the CIT(A) has been removed by the Finance Act, 2011 w.e.f 01.06.2001 - the CIT(A) as per the amended provision while deciding the appeal filed by the assessee may either confirm, reduce, enhance or annul the assessment - The power to set aside has been withdrawn by the Legislature - the assessee has made detailed arguments as would be evident from the paper book on record, however it is seen no finding on those facts has been given by the CIT(A) - No findings has been recorded by the CIT(A) - the order is not in compliance with the Statutory mandate – thus, the matter remitted back to the CIT(A) with the direction to decide the same in accordance with law by way of a speaking order after giving the assessee a reasonable opportunity of being heard – Decided in favour of Revenue.
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