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2019 (8) TMI 1827 - ITAT CHENNAIDisallowance u/s 36(1)(iii) - partial relief was granted by the ld. CIT(A) after considering the additional evidence filed - HELD THAT:- From the perusal of the assessment order, it is clear that the addition on account of interest was made on the ground that interest component was not included in the closing work in progress whereas from the order of the ld. CIT(A) relief was granted under the provisions of Section 36(1) (iii) - CIT(A) has granted relief on all together on different premises from that of the Assessing Officer. Therefore in such circumstances, the only recourse available to the ld. CIT(A) is to grant an opportunity of hearing to the Assessing Officer before deleting the addition. The matter should be remanded back to the file of the ld. CIT(A) to decide the issue in proper prospective in accordance with law. Thus, the ground of appeal No.2 raised by the Revenue is partly allowed for statistical purpose. Addition made u/s.56(2) (viia) - CIT(A) granted relief after considering the fact that the difference of fair market value and the value adopted by the Assessing Officer is less than 1% - HELD THAT:- Nothing was brought to our notice controverting the findings of the ld. CIT(A). In these circumstances, we uphold the order of the ld. CIT(A) in this issue. Accordingly, grounds of appeal 3 & 4 raised by the Revenue stand dismissed.
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