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2017 (9) TMI 560 - AT - Income TaxDisallowance of claim towards the payment of Custom Duty - explain the nature of payment - Held that:- AO disallowed ₹ 93,12,159/- holding that Custom duty paid was in the name of other party and the assessee failed to produce evidence that the amount was related to the assessee. The ld. CIT(A) also observed that assessee carried the matter before Settlement Commission, and the order of Settlement Commission mentions that the amount of ₹ 93,12,159/- relates to other parties and confirmed the disallowance. Even before us, the assessee had not filed any documentary evidence or given any explanation to substantiate the contention that the said amount of Custom Duty was paid by assessee. Hence, we do not find any illegality or infirmity in the order passed by AO and sustained by ld. CIT (A). Thus, the Ground of appeal raised by assessee is dismissed. Not allowing claim of interest paid on import duty - Held that:- As we have already confirmed the disallowance of Import duty of ₹ 93,12,159/-, thus, the disallowance of interest expenses which is related to the same amount is also sustained, as the same pertains to the other parties. We order accordingly. Set off of carried forward loss against the income of current year - Held that:- We direct the AO allow the set off of loss to the assessee in accordance with law, in case any loss is brought forward from earlier year in giving effect of this order as this ground of appeal is consequential in nature. Hence, the appeal of the assessee is partly allowed.
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