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2018 (7) TMI 2208 - ITAT DELHIRectification of mistake - CIT(A) as wrongly interpreted the provisions of section 57(iii) of the Act thus making the Order passed bad in law - whether CIT(A) failed to appreciate the nature of interest payment made as also the consequent receipt of interest while upholding the disallowance, which act of the Ld. CIT(A) is wrong both on facts and in law - HELD THAT:- As on account of incorrect submission on fact by the assessee despite the fact that the Buyer Agreement was available before the A.O. the mistake has occurred - the specific clauses have been extracted in the written submissions before the CIT(A)., however the relevant facts appear to have been ignored while passing the order. In these peculiar facts and circumstances we deem it appropriate to set aside the impugned order accepting the oral prayer of the Sr. DR and restore the issue back to the file of the A.O. The impugned order is set aside back to the AO with a direction to pass a speaking order in accordance with law after giving the assessee a reasonable opportunity of being heard. Said order was pronounced in the Open Court at the time of hearing itself. Appeal filed by the assessee is allowed for statistical purposes.
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