Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (9) TMI 453 - AT - Income TaxAssessment u/s 153A - Deduction towards interest on excise duty - only contention raised by the ld. CIT(D.R.) is that the CIT(Appeals) has passed a very cryptic order, wherein he has allowed a substantial relief to the assessee on the issue under consideration without giving any cogent or convincing reason - HELD T HAT:- CIT(Appeals) would have been right to entertain the claim of the assessee for deduction on account of interest on excise duty pertaining to earlier years in the year under consideration keeping in view the observations made by the Tribunal in its order [2015 (6) TMI 675 - ITAT KOLKATA] passed in assessee's case for A.Y. 2009-10 and the fact that the assessment proceedings initiated by the Assessing Officer for the year under consideration under section 143(2) had got merged as a result of search with the proceedings under section 153A, which were open. Inspite of taking note of the order of the Hon'ble Delhi High Court [2012 (4) TMI 707 - DELHI HIGH COURT] on the basis of which the liability of the assessee on account of interest in question was taken as crystallized by him in the year under consideration, the ld. CIT(Appeals) failed to take note of a very relevant and material fact that the interest charged by Customs and Central Excise Settlement Commission was reduced by the Hon'ble Delhi High Court and the liability of the assessee on account of the said interest after adjusting the amount \already paid by the assessee was reduced. This clearly shows the non-application of his mind by the ld. CIT(Appeals) to the relevant and material facts having a direct bearing on the quantum of liability of the assessee on account of interest in question - remit the matter back to him for deciding the same afresh by passing a well discussed and well reasoned order after giving the assessee a proper and sufficient opportunity of being heard. - Appeal filed by the Revenue is treated as allowed for statistical purposes.
|