Meaning of Slitting/cutting of the ears of cattle

4.119

....."and surely I will order them so they will surely cut off (the) ears (of) the livestock"

Now read carefully the next two Ayats

7.179
And We have given to Hell many of the Jinn and mankind;

they had hearts with which they did not understand,

and they had eyes with which they did not see,

and they had ears with which they did not hear. 
They are like livestock; no, they are even more astray.<----
These are the unaware ones.

And

24.43-44
Have you seen the one who has taken his desire as his god?

Will you be a caretaker over him?

Or do you think that most of them hear or comprehend

They are just like livestock. 
No, they are worse off.<-----

According to 7.179 even though livestock has hearts, eyes and ears they do not function.....
BUT.... They are more aware than Men and Jinn in Hell

In 24.43-44 mentions they can not hear or comprehend (unmindful, headless) 

In 5.1, 22.28 and 22.34 we are told to mention the name of Allah over the livestock

So what cutting the ears of livestock implies......
 

Even though livestock functionality is limited (cannot understand, see or hear) they are aware of one thing only; 
Allah's name being mentioned when they are slaughtered.

So cutting off the ears inadvertently means stopping people from mentioning the name of Allah over livestock (deafening their ears to the only thing they are aware of)

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