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2017 (4) TMI 398 - AT - Income TaxAppellate authority entertain the fresh claims on the basis of facts available on record without revision of the return of income under s.139(5) - Held that:- The issue is no longer res integra. It is well settled that the assessee is entitled to do so. Reference may be made to the decision of CIT vs. Pruthvi Brokers & Shareholders (P) Ltd.(2012 (7) TMI 158 - BOMBAY HIGH COURT) in this regard. Accordingly, we find no infirmity in the order of the CIT(A) in accepting the claim of Assessee after appreciation of facts. - Decided against revenue Disallowance of interest expenditure u/s 36(1)(iii) - Held that:- AO should have only disallowed the interest from the time when the capital goods were purchased till the time the capital goods were put to use. The above contention of the AR of the appellant appears justified. The AO has disallowed the interest because as per the AO since the appellant had not produced the bank account to show the utilization of funds for purchase of capital goods hence he disallowed the interest for the full year. The AR of the appellant was asked to furnish the complete working of the interest which was to be disallowed based on the date on which the funds were used for the purchase of the asset till the date when it was actually put to use. Vide submissions filed on 23.10.2013 the AR of the appellant has filed these details. The details filed show that the entire amount of interest which could be disallowed is ₹ 2,24,334/-.- Decided against revenue Admission of additional evidence in violation of Rule 46A of the I.T.Rules, 1962 - Held that:- Notwithstanding Rule 46A of the IT Rules, the CIT(A) has inherent power under s.250(4) to call for and admit such evidence as necessary for the disposal of the appeal. Therefore, Rule 46A does not act as a fetter for exercising the power available to the CIT(A). Thus ground No.2(b) raised by the Revenue has no force in law and is accordingly dismissed.
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