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2015 (12) TMI 1329 - AT - Income TaxDeduction under Section 80-IB - revision u/s 263 - Held that:- AO is bound to record reasons one way or other for the conclusion reached in the assessment order. The Assessing Officer is expected to discuss the claim of the assessee under Section 80-IB of the Act and record his own reason either for allowing or disallowing the claim of the assessee. Since this exercise has not been done by the Assessing Officer, this Tribunal is of the considered opinion that the order of the Assessing Officer is not only erroneous but also prejudicial to the interests of Revenue. Therefore, this Tribunal do not find any reason to interfere with the order of the Commissioner. However, the Assessing Officer, while passing consequential order, shall consider the decision of this Tribunal in the assessee's own case for assessment year 2010-11 in I.T.A. No.1174/Mds/2015 dated 29.09.2015 and other judgments, if any, brought to the notice of the Assessing Officer by the assessee in the course of proceeding. In other words, the Assessing Officer shall independently examine the issue afresh in accordance with law and thereafter decide the same after giving reasonable opportunity to the assessee.
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