Reasoned fact-finding in capital goods credit disputes is essential; unreasoned tribunal orders may be remanded.

The Tribunal, as the final fact-finding authority, was required to support its conclusions with reasons and a proper examination of the facts before granting capital goods credit. The order under challenge was found deficient because it merely relied on cited decisions, without discussing the relevant factual matrix or explaining how those precedents applied. As the factual basis for the credit claim was not analysed in a reasoned manner, the appellate court could not properly test the correctness of the Tribunal's findings on the legal issues. The Tribunal's order was therefore set aside and the matter remanded for fresh disposal by a detailed, reasoned order.

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Issues: Whether the Tribunal's order allowing capital goods credit was liable to be set aside and the matter remanded for want of reasons and proper factual examination.

Analysis: The Tribunal was the final fact-finding authority and was required to record reasons supporting its conclusions. The order under challenge merely stated that the issues were covered by cited decisions and granted relief without discussing the relevant facts or explaining how the precedents applied to the case. Since the factual basis for the credit claim had not been examined in a reasoned manner, the appellate court could not effectively test the correctness of the Tribunal's findings on the admitted questions of law.

Conclusion: The Tribunal's order was set aside and the matter was remanded for fresh disposal by a detailed and reasoned order.

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