TMI Blog2021 (10) TMI 1142X X X X Extracts X X X X X X X X Extracts X X X X ..... on as AO has mentioned that the reconciliation has been given by the assessee, but it is not acceptable. CIT(A) has passed the order without application of mind. It is settled law that even administrative orders have to be construct with rule of natural justice. The order by Ld. CIT(A) is on the cusp of abandonment of statutory duty cast upon him as the first appellant authority. This is more palpable by a reading of ground No. 1 of the assessee as above. Accordingly, remit the issue to the file of Ld. CIT(A) to pass a proper speaking order after giving the assessee proper opportunity of being heard. Assessee appeal allowed for statistical purpose. - I.T.A. No. 475/Mum/2020 - - - Dated:- 20-10-2021 - Shri Shamim Yahya , Accountant Me ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 24 alleging difference in business income without appreciating the reconciliation filed by the Assessee. 3. Brief facts of the case are that the AO in this case noted that assessee is having business income from share transaction business. He made following disallowances with under noted observation:- Carry forward of losses. From the computation it is noticed that assessee has taken set off of ₹ 17,41,216/- but actually he can take the set off of ₹ 16,49,963/- as speculation loss can not be set off against business income. Hence the difference in the amount is added to the total income of the assessee. Hence total business income becomes ₹ 1,59,667/-. When it was brought to the notice of the assessee's A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... laimed STT as expenditure. But this assessee's contention can not be accepted for there is difference in the amount of net income which is now added to the total income of the assessee. 4. Upon assessee's appeal Ld. CIT(A) in a laconic and non speaking order dismissed the appeal holding as under:- The case was posted for hearing on 15.11.2019 for which no response nor filed any adjournment letter. Hence the appeal filed by the appellant is disposed based on the material available on record, The A.O. disallowed the set off brought forward business loss claimed at ₹ 91,253/- against the current years speculative profits. Similarly the A.O. made addition of ₹ 4,13,724/- being the difference in business income. The A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of section 72 of the Act, the claim is being dismissed. As regards, the addition of ₹ 4,13,724/-, again Ld. CIT(A) has passed a non speaking order. The Ld. CIT(A) mention that assessee could not file any documents and the reconciliation warranting, the AO to make the addition. But this is totally wrong appreciation as AO has mentioned that the reconciliation has been given by the assessee, but it is not acceptable. 7. Thus, Ld. CIT(A) has passed the order without application of mind. It is settled law that even administrative orders have to be construct with rule of natural justice. The order by Ld. CIT(A) is on the cusp of abandonment of statutory duty cast upon him as the first appellant authority. This is more palpable by a read ..... X X X X Extracts X X X X X X X X Extracts X X X X
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