Order passed without adequate reasoning is a non-speaking order

Nuvama Wealth and Investment Limited Vs ACIT (ITAT Hyderabad)

ITAT Hyderabad held that order passed without giving reasons for the conclusions arrived at is a non-speaking order and the same is liable to be set aside.

Facts- During the course of scrutiny of the return of income for the assessment year 2017-18, AO disallowed the Employee Stock Option Plan (ESOP) cost claimed by the assessee as expenditure.

Assessee preferred appeal before the learned CIT(A) and submi

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