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2016 (3) TMI 1232 - AT - Income TaxAppeal to produce additional evidence - interest earned was on the FDRs - Held that:- In the present case, we see that in order to bring out the fact on record whether the funds are inextricably linked to the setting up of plant or not. These evidences which are filed before us under Rule 29 are very important. The fact remains that the assessee has not taken any new plea and the same has been taken all along before the lower authorities. We find that there is a substantial cause for admitting these evidences and we hereby admit these evidences and send the matter back to the file of the Assessing Officer to consider the same and decide the issue as per law. If it is found that the funds were deployed for some reason which is inextricably linked with the setting up of the plant and not for running the plant, then relief be given to the assessee, otherwise, the stand taken by the Assessing Officer in first round may be confirmed. Appeal of the assessee allowed for statistical purposes.
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