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2013 (6) TMI 834 - ITAT COCHINRevision by Commissioner u/s 263 - Assessing officer to record the reasons for decisions - Deduction of interest expenses u/s 36(1)(iii) - For the earlier period, Assessee filed an appeal against the order of the Administrative Commissioner of redoing the assessment for the assessment year 2007-08. He referred his own case for the assessment year 2008-09, where the Tribunal had an occasion to examine the issue and found that a similar interest paid was allowable u/s 36(1), thus the order of the assessing officer should not be erroneous. - HELD THAT:- The assessment order does not contain any reasoning. It is well settled principles of law that administrative orders shall speak for themselves. Each assessment year is separate and independent. Therefore, merely because this Tribunal allowed the claim of the assessee for the assessment year 2008-09 it does not mean that the assessing officer need not pass a speaking order. In view of the Decisions in COMMISSIONER OF INCOME-TAX VERSUS SUNIL KUMAR GOEL. [2005 (1) TMI 34 - PUNJAB AND HARYANA HIGH COURT] and M/S FATEH CHAND CHARITABLE TRUST VERSUS COMMISSIONER OF INCOME TAX AND ANOTHER [2013 (6) TMI 67 - ALLAHABAD HIGH COURT] and Apex Court, it is obligatory on the part of the assessing officer to record reasons in the assessment order. Recording of reason would not only enable the revisional / appellate authorities to discharge their function effectively but also repose confidence in the system. The appeal of Assessee thus was rejected.
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