The Tax Publishers2020 TaxPub(DT) 4094 (Del-Trib)

INCOME TAX ACT, 1961

Section 250(6)

Where CIT(A) in confirming disallowance on account of interest attributable to amount of Rs. 68,00,000 had followed direction given in earlier assessment year, no error could be found in the order of CIT(A) in current assessment year.

Appeal [CIT(A)] - Order of CIT(A) - Issue on disallowance of interest - Followed direction of earlier year

Assessee filed appeal against the order of CIT(A) confirming disallowance on account of interest attributable to amount of Rs. 68,00,000 utilized for purchase of property a allegedly not used for business purposes. Held: In assessment years 2008-09 and 2009-10, the issue was restored to the file of AO and the CIT(A) had respectively in those years CIT(A) directed AO to re-compute the interest attributable to Rs. 68 lakhs. Similar direction had been given by CIT(A) in this year also. Thus, no error could be found in the order of CIT(A) in current assessment year.

REFERRED :

FAVOUR : Against the assessee.

A.Y. : 2010-11

INCOME TAX ACT, 1961

Section 37(1)

SUBSCRIBE TaxPublishers.inSUBSCRIBE FOR FULL CONTENT