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2014 (1) TMI 1779 - ITAT MUMBAIInterest expenditure - Held that:- Respectfully following the findings of the Tribunal this issue is restored back to the files of the AO to follow the directions of the Tribunal in A.Y. 2005-06 and 2006-07 in respect of rejection/reliability of the books of accounts and the proposed adjudication of the Ld.CIT(A) in view of the said direction may have direct impact on the issue of the impugned liability, we set aside this issue also to the files of the Ld.CIT(A) to adjudicate afresh along with the adjudication of the respective ground pertaining to the rejection/reliability of the books of accounts Charging of interest u/s. 234A, 234B & 234C - Held that:- Tribunal in the case of Topaz Holding Pvt. Ltd [2013 (10) TMI 1067 - ITAT MUMBAI] held that the chargeability of interest u/s. 234A, 2324B and 234C of the Act does not fall within the domain of the Special Court (Control of offences relating to transactions in securities) at 1992. Since levy of interest is mandatory and is very much applicable in the case of notified persons, ground No. 1 (d) and 1 (e) are allowed. Needless to mention that the levy of interest would be consequential.
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