TaxTMI 
TaxTMI 
2018 (1) TMI 1145
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.... together and are being disposed of by this common order for the sake of convenience. 3. The grounds raised in the Revenue 's Appeal for assessment year 2009-10 read as under:- 1. On the facts and circumstances of the case and in law, Ld. CIT erred in deleting addition of Rs. 32,72,07,299/- made by the AO under the head business profit, without appreciating the totality of facts discussed and also case laws mentioned in the assessment order. 2. On the facts and circumstances of the case and in law, Ld. CIT(A) erred in deleting addition of Rs. 2,03,86,732/- on account of loss under maintenance charges, without appreciating that the said project was treated as completed on the last day of the previous year i.e. 31.3.2009,....
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....lip Star Hotels Ltd. has observed that decision of SA Builders need to be reviewed. 4. The appellant craves, leave or reserving the right to amend, modify, alter, add, or forego any grounds(s) of appeal at any time before or during the hearing of this appeal." 5. At the time of hearing, Ld. DR relied upon the order of the AO and reiterated the contentions raised in the grounds of appeal. She stated that Ld. CIT(A) erred in deleting the addition of Rs. 32,72,07,299/- made by the AO under the head business profit; without appreciating the totality of facts discussed and also case laws mentioned in the assessment; did not discuss the merit of the case; not given any proper justification for the deletion of the addition in dispute a....
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....T(A) has passed a well reasoned order which does not need any interference. He further stated that AO has estimated the addition in dispute without any justification and made the same on estimate basis, which is not tenable. 7. We have heard both the parties and perused records, especially the impugned order. For the sake of convenience, we are reproducing the relevant findings of the Ld. CIT(A) as under:- "I have considered the order of the AO and the submissions of the assessee and I find considerable merit in the submission of the assessee that there is no proper justification for rejecting the books of accounts as the AO did not find any defects in the books of accounts maintained by the assessee which are audited u/s. 44AB.....
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....eme Court of India in the case of Asstt. Commissioner of Income Tax vs. M/s Shukla & Brothers decided in SLP(C) No. 16466 of 2009 vide order dated 15.09.2010 wherein, the Hon'ble Supreme Court of India has observed that "It is true that requirement of stating reasons for judicial orders necessarily does not mean a very detailed or lengthy order, but there should be some reasoning recorded by the lower Authority for granting relief to the assessee." The purpose, as already noticed, is to make the litigant aware of the reasons for which the relief is declined as well as to help the higher Court in assessing the correctness of the view taken by the lower authority deciding the appeal of the Assessee. In view of the above, we are unable to find....