TMI Blog2013 (12) TMI 1249X X X X Extracts X X X X X X X X Extracts X X X X ..... – Following Assistant Commissioner, Commercial, Tax Department, Works Contract and Leasing, Quota Vs. Shukla and Brothers [2010 (4) TMI 139 - SUPREME COURT OF INDIA] - It shall be obligatory on the part of the judicial or quasi judicial authority to pass a reasoned order while exercising statutory jurisdiction - Reason is the very life of law. When the reason of a law once ceases, the law itself generally ceases - The tribunal has been failed to discharge his obligation by not discussing the evidence and material available on record extending parity to the respondent - The order is unreasoned and decided without discussing the similarity between the case in hand and the earlier judgement of tribunal – The issue was restored for fresh adjud ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of shares of M/s Jaiprakash Industries Ltd. as on 18.4.1990 was Rs. 12.75 per share as per daily quotation list of Delhi Stock Exchange. Hence, it was taken as deemed gift. Assessing Authority has recorded a finding and treated it as deemed gift, which was reversed by CIT (Appeal). 3. Sri D.D. Chopra, learned counsel for the appellant submits that order passed by the tribunal is unreasoned. He further submits that the tribunal had relied upon its earlier judgement of the year 1991-92 delivered on 24th April, 2003 in favour of the assessee. Hence benefit has been given in terms of earlier judgement. He further submits that in spite of several requisition Department could not find the copy of earlier judgement passed by the Tribunal. Thou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecided earlier and thereafter parity have been extended then finding should have been recorded with regard to similarity of dispute. 6. Further submission of learned counsel for the appellant is that in the absence of narration of factual position and similarity of controversy between two assessment years, the Revenue Authority is not in a position to check the genuineness of record and finding of fact. 7. Hon'ble Supreme Court in a case reported in JT 2010 (4) SC 35, Assistant Commissioner, Commercial, Tax Department, Works Contract and Leasing, Quota Vs. Shukla and Brothers held that it shall be obligatory on the part of the judicial or quasi judicial authority to pass a reasoned order while exercising statutory jurisdiction. It has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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