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2014 (1) TMI 1273 - ITAT MUMBAIAddition made on account of discounting charges paid to bank - whether such discount/interest was incurred by the assessee in carrying on of its business – Held that:- The Tribunal in its earlier order directed the Assessing Officer to examine the nature of interest/discount incurred and its nexus with the carrying on of the business - it is apparent that after recording the dates on which notices were issued, the A.O. reproduced the original order passed by him u/s 143(3) and thereafter reproduced its confirmation by the learned CIT(A) in the first round. The Assessing Officer simply repeated the assessment and first appellate authority's order without discussing anything new about the matter on which the Tribunal gave direction - The present assessment order was passed by the A.O. on 18.12.2006 after filing of the above referred documents by the assessee - the Assessing Officer did not make a whisper in the assessment order of such details having been filed by the assessee - This fact has been elaborately considered by the learned CIT(A) – the CIT(A) has recorded that these expenses were incurred during the course of business - order of the CIT(A) upheld – Decided against Revenue.
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