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2016 (5) TMI 1489 - AT - Income TaxReopening of assessment - addition on account of personal drawings and interest expenses - HELD THAT:- As decided in assessee's own case Bench restricted the addition to 50% of the addition sustained by the CIT(A). Addition on account of interest expense - HELD THAT:- An identical issue has been considered by the coordinate Bench in assessee's own case thus we restore this issue to the file of the Ld. CIT(A) for fresh adjudication after giving reasonable opportunity of being heard to the assessee. Accordingly, this ground of appeal is treated as allowed for statistical purpose. Interest u/s 234A, 234B and 243C is consequential - we allow the appeal of the revenue for statistical purpose and direct the AO to re-compute the interest liability after reducing the amount of tax deductible at source and decide as per the provisions of law.
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