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2014 (10) TMI 1075 - AT - Income TaxDenial of Liability towards interest expenditure - HELD THAT:- Identical issue arose before the Bench for A.Y. 2000-01 and following the decision of the Tribunal in the case of M/s Eminent Holdings Pvt. Ltd. [2014 (7) TMI 2 - ITAT MUMBAI] wherein the decision of Hitesh S. Mehta [2013 (10) TMI 1065 - ITAT MUMBAI] was followed and finally the issue was set-aside to the file of the ld. CIT(A) for fresh adjudication with a direction to grant a reasonable opportunity of being heard on the issue and thus was allowed for statistical purposes. Following the reasoning, being identical facts/issue before us we remand this issue to the file of the ld. CIT(A) for fresh adjudication. Calculation of book profit u/s 115JB - Since, we have remanded the aforesaid ground of not granting relief of liability towards interest expenditure claimed by the assessee to the file of the ld. CIT(A), therefore, the grievance of the assessee will depend upon the outcome of the decision to be taken with respect of aforesaid ground no. 4. Consequently, this ground is consequential to the above - this ground is allowed for statistical purposes. Charging of interest u/s 234A, 234B and 234C - HELD THAT:- Agreed, levy of interest is mandatory and sometimes consequential depending upon the facts of each case. We note that identical issue arose before the Tribunal in the aforesaid cases therefore following the reasoning contained therein we direct the AO to recomputed the interest liability after reducing the amount of tax deductable at source. This ground is allowed for statistical purposes.
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