Absence of expression or opinion giving reasons for rejecting the Order violates Article 14 of Constitution of India and such Order cannot be sustained.
Review application is required to be dealt after giving an opportunity of hearing to the appellant which in the instant case was not done. Any observation made by the NSE in the note placed before the DAC was required to be rebutted, if any, by the appellant which was also not done. We also are of the opinion that a reasoned and speaking order should have been passed by the DAC. There is total absence of expression or opinion giving reasons for rejecting the review application. The impugned order is, thus, violative of Article 14 of Constitution of India and cannot be sustained.
Judgement link : http://sat.gov.in/english/pdf/E2019_JO201894.PDF