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2023 (12) TMI 335 - AT - Income TaxRectification of mistake in calculation of interest chargeable u/s 234B and 234C while finalizing the assessment u/s 143(3) - HELD THAT:- The said order of the AO, to say the least, is cryptic and bereft of any reasoning. Order of CIT(A) also suffers from the same vice in as much as no reason has been advanced for dismissing the appeal of the assessee. It does not require much gain saying that the orders of the income tax authorities, which seek to fasten tax liability are in the nature of ‘quasi-judicial’ orders, which ought to set forth reasons and the decision thereof, so that the factum of due application of mind by the authority, becomes evident. In the instant case, the orders of the authorities below, are conspicuous by absence of any reason for the decision thereof, and therefore, the same are grossly unsustainable. Thus, considering the entirety of circumstances, we set aside the orders of the lower authorities and remit the matter back to the file of the Assessing Officer for consideration afresh. AO shall consider the calculation of interest u/s. 234B and 234C as canvassed by the assessee in his application dated 16.11.2017 and thereafter pass a speaking order, in accordance with law
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