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2017 (4) TMI 1062 - HC - Income TaxDeduction u/s 80IC - on the basis of material found in search AO held that 100% of the work of the assessee had not been done at Gagret (Himachal Pradesh) thus allowed deduction @ 20% of the profit from manufacturing - CIT(A) allowed deduction @ 100% also confirmed by ITAT - Held that:- The entirety of the facts was required to be gone into to test the veracity of the plea taken by the assessee. The order dated 28.12.2012 (Annexure A-III) passed by the Tribunal is not a speaking order giving the detailed reasons dismissing the appeal and affirming the findings of the CIT (A). The Tribunal being final fact finding authority was required to deal with all aspects of factual matrix and then record its conclusions based thereon. Mere concurrence with the view expressed by the CIT(A) is not sufficient and the Tribunal was required to record the reasons for dismissing the appeal. In view of the above, 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. Thus, the substantial question of law stands answered accordingly. Consequently, after setting aside the order of the Tribunal the matter is remanded to the Tribunal for fresh adjudication after affording an opportunity of hearing to the parties, in accordance with law.
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