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2018 (11) TMI 1540 - ITAT MUMBAIValidity of reopening of assessment - Addition u/s. 68 towards "unexplained cash credit" - Held that:- We find that on what basis and on examination of what fact and figure in the records, the CIT(A) has given a finding that the capacity of the shareholders is also not in doubt, is not comprehendible. Though the CIT(A) has referred to several case laws from the ITAT, he has not at all referred to the proposition in the said case law and how they are applicable to the facts of the present case. On the overall consideration of the entire conspectus of the case, we are of the considered opinion that the CIT(A) has passed a very cryptic order both on the validity of the reopening and the merits of the case. It is settled law that even the administrative orders have to be consistent with the rules of natural justice. In our considered opinion, it was incumbent upon the ld. CIT(A) to pass a speaking order on both the issue of validity of reopening and the merits of the case. Hence, in our considered opinion, the interest of justice will be served if both the issue of validity of reopening and merits of the addition are remitted to the file of the ld. CIT(A) for fresh adjudication by passing a speaking order on the subject. - Revenue’s appeal and the assessee’s cross objection are allowed for statistical purposes.
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