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2023 (4) TMI 535 - AT - Income TaxDisallowance of Employee Stock Option Plan (ESOP) cost claimed as expenditure - TDS credit for a lesser amount than was available - CIT(A) in sustaining the disallowance to the tune of 30% of the ESOP cost and not allowing the full TDS credit - Main plank of the argument of the AR is that the order of the learned CIT(A) does not address any of the contentions raised by the assessee in their written submissions filed before AO and also the CIT(A) nor to the material submitted by the assessee - HELD THAT:- We are of the considered opinion that the exercise, if any, done by the learned CIT(A) in formulating the opinion that various contentions raised by the assessee to the effect that ESOP expenditure is a revenue expenditure allowable in the hands of the employer are not acceptable is not reflected on the face of the order. No reasons are forthcoming for invoking the provisions under section 17(2)(vi)(c) of the Act against the repeated contentions of the assessee that for the reasons stated in their written submissions, such an expenditure has to be allowed in the hands of the employer. Reasons are the life blood for any judicial/quasi-judicial order without which it would be difficult for the appellate authority to sustain or overrule the findings reached by the authorities. As rightly pointed out by the learned AR, the reasons are conspicuous by their absence and, therefore, we find it difficult to know the mind of the first appellate authority. We deem it just and proper to set aside the impugned order and restore the appeal to the file of the learned CIT(A) to dispose it of by way of speaking order, after affording an opportunity to both the parties - Appeals are treated as allowed for statistical purposes.
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