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2015 (1) TMI 1065 - ITAT HYDERABADDisallowance of interest expenses - Held that:- Impugned disallowance has been sustained by the CIT(A) observing that detailed particulars of payments have not been furnished by the assessee either before the assessing officer or before him. Since the assessee before us claims to be now in possession of the details of payments, which have been furnished at pages 261 and 264 of the paper-book, we deem it fair and proper to restore this issue to the file of the assessing officer, for fresh consideration. - Decided in favour of assessee for statistical purposes. Disallowance of the claim of capital loss - Set-off of capital loss against the capital gains income - Held that:- As per Section 94(7), if any person buys securities or units within three months prior to the record date and such person sells or transfers such securities within three months after such record date, loss on such sale of securities/units shall be ignored for computing income chargeable to tax. As verified from the record, assessee purchased these units and held them for more than three months period as on record date. Therefore, condition '(a)' specified in the section has not been fulfilled. We agree with the assessee's contention that the transactions does not come within the purview of Section 94(7). Therefore, the loss as claimed is to be allowed. - Decided in favor of assessee. Disallowance of deduction u/s.80IA in respect of the profits earned from eligible and notified BTS Project - infrastructure project - Held that:- Since both the Assessing Officer and the Ld.CIT(A) considered the application under automatic rule, they have raised objection whereas assessee's application does not fall under Automatic Approval Scheme, but under Non-automatic Approval Scheme. In view of this, since there is already approval from the relevant authorities and also from the CBDT, we direct the Assessing Officer to grant the deduction u/s.80IA subject to verification of computation.- Decided in favor of assessee for statistical purposes. Non-grant of TDS credit without assigning any reason - Held that:- CIT(A) noted that an amount of ₹ 8,02,73,441/- was being granted as TDS credit and directed the Assessing Officer to look into the TDS claim and grant proper claim as per law. Even though there is direction from the CIT(A), it is assessee's contention that credit has not been given. Assessing Officer is directed to examine the claims of assessee and allow the credit after due verification. - Decided in favor of assessee for statistical purposes.
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