TMI Blog2022 (5) TMI 543X X X X Extracts X X X X X X X X Extracts X X X X ..... er and the findings made thereon. The CIT (A) has not even discussed how the judgment of Hon ble Supreme Court in the case of CIT Vs. Stellar Investment Ltd. [ 1991 (4) TMI 100 - DELHI HIGH COURT] and the judgment of Delhi High Court in the case of Sophia Investment Ltd [ 1993 (8) TMI 62 - DELHI HIGH COURT] are applicable to the facts and circumstances of the case apart from mentioning the same in his order. Therefore, in our considered opinion, if the matter is restored to the file of CIT (Appeals) for fresh adjudication after verifying the materials on record with a direction to pass speaking order, the substantial justice would be rendered. - Decided in favour of revenue for statistical purposes. - ITA No.3807/Del/2017 - - - Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ground that, the share application money invested by the share applicants are unexplained cash credit u/s 68 of the Act, disallowed Rs. 17,755/-under section 36(1)(iii) of the Act and further dissolved a sum of Rs. 1,227/- of interest on Service tax, TDS, Excise and VAT. As against the assessment order dated 11/03/2016, the assessee preferred an appeal before the CIT(Appeals). The learned CIT(Appeals) has partly allowed the appeal by deleting the addition of Rs. 4,50,00,000/- made by the Assessing Officer. Aggrieved by the said deletion vide order dated 25/04/2017 the Revenue is before this Tribunal by way of instant appeal on following ground:- 1. On the facts and circumstances of the case, the Ld.CIT(A) has erred in deleting the add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /2, 1 st floor, Gali Raghunandan, Naya Bazar, Delhi- 110006 (PAN AAACT3771C) 54,667 10 140 82,00,000 3 Sidheshwari Commotrade Pvt Ltd 46, 3rd Floor, Strand Road, Koikata (PAN AAMCS7615N) 10 140 2,63,00,000 4 Satellite lnfra projects Pvt Ltd 52, Weston Street, Kolkata-700012 (PAN AAFCR2818B) 10 140 80,00,000 Total share application money 4,50,00,000 For the above four share applicant c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n adjournment for 11.03.2016 and was again given show cause as to why the share application money worth Rs 4.5 Cr may not be treated as unexplained cash credit u/s 68 of the IT Act 1961 in case no reply is received from the assessee on the said date and matter shall be decided on basis of material available on record. On the said date i.e. on 11.03.2016, the neither filed any reply nor he attended the case. 5. The learned DR vehemently submitted that, none of the above facts have been taken into consideration or discussed in the order of the learned CIT(A). The impugned is non speaking, which is cryptic and the same has been passed without assigning the reasons, therefore, sought for interference by the Tribunal. 6. We have heard le ..... X X X X Extracts X X X X X X X X Extracts X X X X
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