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2016 (1) TMI 1449 - AT - Income TaxDisallowance u/s 14A - Interest expenditure disallowance - MAT computation - HELD THAT:- Whether the interest expenditure constitutes ascertained liability or not is linked to the issue of rejection of books of account as the books of account are the basis for computation of ‘book profits’ under section 115JB of the Act. This issue was set aside to the file of the Ld. CIT(A) for fresh adjudication. Following the aforesaid order of the Co-ordinate Bench of this Tribunal in the case of Hitesh S Mehta [2017 (12) TMI 1668 - ITAT MUMBAI] - Thus we are of the considered opinion that the issue of disallowance of interest expenditure is to be set aside to the file of the Ld. CIT(A), for fresh adjudication. Charging of interest u/s 234A, 234B and 234C - HELD THAT:- Following the decision of the co-ordinate Bench of the Tribunal in the case of Eminent Holdings Pvt. Ltd. [2014 (7) TMI 466 - ITAT MUMBAI] we restore the issue of computation of interest chargeable u/s. 234A, 234B and 234C of the Act to the file of the Assessing Officer for fresh examination and adjudication after considering the amount of TDS made on income assessed. Chargeability of interest u/s.234A, 234B and 234C - ‘notified persons’ notified under the Special Court Act - AY 2008-09 - HELD THAT:- Respectfully following the decision of the Hon'ble Bombay High Court in the case of Divine Holdings Pvt. Ltd. [2012 (4) TMI 100 - BOMBAY HIGH COURT] and in accordance with the ratio laid down in the Hon’ble Apex Court’s order in Anjum H. Ghaswala [2001 (10) TMI 4 - Supreme Court] we hold that interest u/s. 234A, 234B and 234C of the Act is mandatorily chargeable in the case on hand eventhough it is a ‘notified person’.
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