TMI Blog2008 (4) TMI 231X X X X Extracts X X X X X X X X Extracts X X X X ..... ing to the conclusion based on those facts and law - order passed by the Assessing Officer is cryptic - remand the matter to AO to decide the issue afresh in terms of the order passed by the CIT - 166 of 2007 - - - Dated:- 2-4-2008 - MADAN B. LOKUR and V.B. GUPTA JJ. R.D. Jolly, for the appellant. M. S. Syali, with Ms. Mahua C. Kalra, for the respondent. JUDGMENT 1. Admit. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Commissioner of Income Tax ("the CIT") exercised powers conferred under section 263 of the Income Tax Act, 1961 (the Act) to revise the order passed by the Assessing Officer on the ground that the order is erroneous and prejudicial to the interest of the Revenue. 7. After hearing the Assessee, the CIT concluded that the Assessing officer did not verify several issues and facts as mentioned i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt facts and the Assessee had also shown its bona fides and its reasonable belief in not deducting tax at the appropriate stage. The penalty proceedings were not dropped casually by the Assessing Officer but after verification of full facts disclosed by the Assessee in the reply. 10. We are unable to appreciate this reasoning given by the Tribunal simply because that the Assessing Officer hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... der passed by the Assessing Officer is cryptic, to say the least, and it cannot be sustained. The Tribunal cannot substitute its own reasoning to justify the order passed by the Assessing Officer when the Assessing Officer himself did not give any reason in the order passed by him. Under the circumstances, we answer the question in the affirmative, in favour of the Revenue and against the Assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X
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