Law:

Section:

Section 264, read with sections 244 and 214 of the Income-tax Act, 1961 - Revision - Of other orders - Assessment years 1978-79 to 1980-81 - Assessee-company filed its return for relevant assessment years which was completed by IAC - Subsequently, assessee filed a revision petition before Commissioner and claimed that interest under section 244(1A)/214(1A) was not worked out properly by IAC - Commissioner, however, dismissed same by passing a speaking order - Whether order passed by Commissioner did not satisfy pre-requisites of a speaking order, as same did not contain reasons to support order - Held, yes - Whether therefore, said order was liable to be quashed - Held, yes FACTS The assessee-company filed its return for the relevant assessment years. The IAC completed the assessment of the assessee. The assessee subsequently, filed a revision petition under section 264 before the Commissioner against the order of the IAC and claimed that interest under sections 244(1A) and 214(1A) was not worked out properly by the IAC. The Commissioner, however, dismissed the revision petition by passing a speaking order. On writ : HELD Keeping in view the settled principles of law laid down by the Apex Court and the High Court in catena of decisions and applying the same in the facts and circumstances of the instant case, it was held that the order passed by the Commissioner did not satisfy the pre-requisites of a speaking order, as the same did not contain reasons to support the order. [Para 13] In view of above discussions, the writ petitions were to be allowed, the impugned order of the Commissioner was to be quashed and the matter was to be remitted back to the Commissioner for decision in terms of law laid down on the subject. [Para 14] CASE REVIEW Ajantha Industries v. CBDT [1976] 102 ITR 281 (SC)/[1976] AIR 1976 SC 437, Bhagat Raja v. UOI [1967] AIR 1967 SC 1606,Harinagar Sugar Mills Ltd. v. Shyam Sunder Jhunjhunwala [1961] 31 Comp. Cas. 387/[1961] AIR 1961 SC 1669, Mahabir Prasad Santosh Kumar v. State of U.P. [1970] AIR 1970 SC 1302, S.N. Mukherjee v. UOI [1990] AIR 1990 SC 1984, Siemens Engineering and Manufacturing Co. of India Ltd. v. UOI [1976] AIR 1976 SC 1785.…

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