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2014 (8) TMI 1092 - ITAT MUMBAINon granting relief of liability towards interest expenditure claimed by the assessee - Held that:- We find that identical issue has been set-aside and restored to the files of the CIT(A) for afresh adjudication of the issue after granting a reasonable opportunity of being heard to the assessee. This view has been taken by the Tribunal in the case of M/s Eminent Holdings Pvt. Ltd. [2014 (7) TMI 2 - ITAT MUMBAI] wherein the Tribunal has followed the decision of the Co-ordinate Bench in the case of Hitesh S. Mehta [2013 (10) TMI 1065- ITAT MUMBAI]. Respectfully following the aforesaid order of the Tribunal, we are of the considered opinion that the issue raised in ground no.4 should set-aside to the files of the CIT(A) for afresh adjudication of the issue after granting a reasonable opportunity of being heard to the issue. Ground no.4 is allowed for statistical purposes. Calculation of book profit u/s 115JB - Held that:- Since we have set-aside ground no. 4, this grievance is consequential to the outcome of the decision taken in respect of ground no.4. We accordingly set-aside this grievance to the files of the CIT(A) to decide afresh as per the provisions of the law after giving findings on the claim of interest as per ground no. 4 of this appeal. Ground no. 5 is allowed for statistical purposes. Chargeability of interest u/s 234A, 234B and 234C - Held that:- Levy of interest is mandatory though consequential on the facts of the case, we accordingly set-aside this issue to the files of the CIT(A) to levy interest as per the provisions of the law.
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