9911796707
TMI Blog2014 (2) TMI 1161X X X X Extracts X X X X X X X X Extracts X X X X ..... ided vide its order dated 17.06.2011 by the Co-ordinate Bench. The said decision was challenged by the Revenue in appeal u/s 260A before the Hon'ble High Court. As per the copy available on record it is seen that the Hon'ble High Court vide its order dated 10.07.2012 remitted the issue pertaining to cash loans received by the assessee and the interest thereon back to the ITAT. It was a common stand of the parties before the Bench that the said issue is agitated by the Revenue in each of these years vide Ground Nos.-3 & 4 in the respective appeals. 2. Ld. CIT DR relying upon the judgement of the Hon'ble High Court submitted that the finding in the impugned order is no finding as such being perverse should be set aside and the matter be rest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... merely because of the fact that the Remand Report was not considered by the ITAT the issue was restored to the ITAT, we deem it appropriate to extract the relevant discussion qua the Remand Report from the judgement of the Hon'ble High Court. While doing so we observe that the said argument of the Revenue was considered but not accepted to by the Hon'ble High Court as is evident from the paras extracted in the subsequent paras. 4.2. We further extract the relevant portion from the said judgement to hold that lack of a speaking order by the CIT(A) wherein he has failed to address his reasoning for granting relief to the assessee is no longer res integra as would be evident from the following paras from the judgement of the Hon'ble High Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals) even after being aware of the entire circumstances merely proceeded to record the submissions of the Appellant without in any manner indicating the soundness or merit of those arguments. At this stage, this Court is not concerned with the soundness of the reasoning of the CIT(Appeals) or the fact that the CIT(Appeals) did or did not address itself to the remand reports. What strikes this Court is the fact that the Tribunal being the appellate authority vis-à-vis CIT(Appeals) was under the duty to satisfy itself that the reasoning adopted by the CIT(Appeals) was under the duty to satisfy itself that the reasoning adopted by the CIT(Appeals)- in a case where the appeal was allowed and the reasoning of the Assessing Officer disp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... est therefore:- Submissions of the appellant are that the loans is a regular feature of the business and these are raised almost every year and so far so long no addition had been made. The loans raised are from persons who are existing assessee, their confirmations as mentioned in letter dated 25.03.2008 as mentioned in letter dated 25.3.2008 as mentioned in letter dated 25.3.2008 have been filed, loans are through banking channel, these are interest bearing loans. TDS has been deducted from the interest paid, necessary details for which have been filed. The appellant also contended that the loans have been added because the people did not respond to summons sent by the A.O. because the matter was old one. The appellant had repeatedly req ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is no such loan for which addresses are not available. The arguments of the appellant were sent to the A.O. and A.O.'s only objection is that they are not responding to the summons. To this appellant added that for this, he is helpless because power to enforce their attendance is with the A.O. and the matter being old one. They are not co-operating especially because in few cases, the loan creditors who had attended, were sent by to come again as is clear from Affidavit of Shri Rajesh Bhatia, one of the partners of the appellant. Considering the history of the case and legal position, this addition is uncalled for and is deleted alongwith interest for all the above years." (Emphasis provided by the Bench) 4.4. Accordingly in the light o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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