The Tax Publishers2021 TaxPub(DT) 0960 (Bang-Trib) : (2021) 088 ITR (Trib) 0423

INCOME TAX ACT, 1961

Section 254(1)

Where admission of additional grounds raised by assessee did not require investigation of fresh facts, additional grounds were admitted for adjudication.

Appeal (Tribunal) - Additional ground - No investigation of fresh facts called for -

Assessee by way of additional ground raised before ITAT challenged disallowance of deduction under section 36(1)(iii) confirmed by CIT(A) contending that CIT(A) erred in law and on facts in confirming the disallowance to the extent of interest under section 36(1)(iii) of the Act, even though the total amounts advanced to related parties was much less than the capital and reserves and other interest free funds available with assessee. Held: As admission of additional grounds raised by assessee did not require investigation of fresh facts, therefore, additional grounds were admitted for adjudication.

Relied:CIT v. National Thermal Power Corporation 1998 (229) ITR 383 (SC) : 1998 TaxPub(DT) 342 (SC)

REFERRED :

FAVOUR : In assessee's favour.

A.Y. : 2014-15 & 2015-16


INCOME TAX ACT, 1961

Section 36(1)(iii)

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