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2024 (2) TMI 580 - ITAT DELHIDisallowing brought forwards loss - declaration by the assessee in the revised computation of income filed during the assessment proceedings - HELD THAT:- As submitted recently the ITAT, Delhi vide its order [2023 (11) TMI 1223 - ITAT DELHI] in assessee’s own case for AY 2017-18 has decided the appeal by partly allowed the appeal for statistical purposes and AO is yet to get effect to order passed by the Tribunal for AY 2017-18. Hence, we direct the AO to consider the assessee’s grievance and take remedial action as per law after due verification and allowing a reasonable opportunity of hearing to the assessee. As a consequence, the Ground No. 2 is allowed for statistical purposes. Disallowance of deduction u/s 80IA(4)(i) - Contractees, who have allotted work of infrastructural facility to the appellant, are not recognised u/s 80IA(4)(1)(b), and Appellant is merely a contractor and not a "developer" - HELD THAT:- As relying on assessee’s own case for AY 2016-17 [2023 (11) TMI 1223 - ITAT DELHI] we decide Ground in favour of the assessee holding that the assessee is eligible to claim the impugned deduction under section 80IA of the Act. Addition on deduction of expenses u/s. 40(a)(ia) - AO has started the computational process from the total income disclosed by the assessee in the revised computation of total income filed during the course of assessment - as argued Excess deduction was suo moto disallowed by the assessee in the revised computation of total income, hence, according to him, no such disallowance was again called for once starting point was the Revised Computation of total income - HELD THAT:- After hearing both the sides on the issue, we find the plea of the assessee’s AR to be reasonable and accordingly, we direct the Assessing Officer to examine the assessee’s plea and take remedial action, if any, as per law, after giving adequate opportunity of being heard to the assessee. Accordingly, the Ground No. 4 is allowed for statistical purposes. TP Adjustment under Chapter X - adjustment on account of alleged interest receivable on advance given - HELD THAT:- Following the aforesaid precedent [2023 (11) TMI 1223 - ITAT DELHI], we send the matter back to the AO for deciding the issue afresh keeping in view the evidence submitted by the assessee as also the observations of Kusum Health Care (P) Ltd. [2017 (4) TMI 1254 - DELHI HIGH COURT] and as per law. Retention money retained by the employer - Addition made as retention money is received by the assessee and hence, no deduction is allowable to the assessee - as submitted that on the issue of retention money, Finance Act, 2018 has inserted provisions of Section 43CB w.e.f. 1.4.2017 - HELD THAT:- Since effect of this statutory insertion have not been considered by both the lower authorities, hence, matter requires a fresh adjudication by the AO in accordance with law - similar issue came for consideration before the ITAT and the Tribunal vide its order dated [2023 (11) TMI 1223 - ITAT DELHI] in assessee’s own case for AY 2017-18 has set aside the matter back to the AO for a fresh adjudication. TDS credit - AO has allowed the credit less as allowable to the assessee according to the income offered for taxation for which complete details and reconciliation was filed during the assessment proceedings - As it is a matter of verification, therefore, we direct the AO to consider assessee’s claim and after due verification take remedial action in accordance with law. Accordingly, the Ground is allowed for statistical purposes. Levy of interest u/s. 234B is consequential in nature, hence, AO is directed to re-compute the interest u/s. 234B, if any, afresh in accordance with
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