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2021 (7) TMI 946 - AT - Income TaxInterest u/s 244A - Whether CIT(A) is correct in allowing interest u/ s. 244A for the period of delay attributable to the assessee either wholly or in part.? - HELD THAT:- As submitted by assessee that the delay is not attributable to the assessee as the department gives credit to the TDS only when reflected in 26AS. The updation of Form 26AS is beyond the control of the assessee and hence the delay in updation should not be attributed to the assessee. Therefore, we find no infirmity in the order of the CIT(A) in directing the AO to allow interest u/s 244A as was allowed in the earlier 154 order for the full period and upholding the order of the CIT(A), the grounds raised by the revenue on this issue are dismissed. Revision u/s 263 - computation of loss or unabsorbed depreciation - HELD THAT:- We observe that the assessee has furnished details of the unabsorbed depreciation and business forward losses before the AO on two different dates, first vide letter dated 24/07/2014 and second one on 11/11/2014, which have been extracted by the AO. AO has calculated the unabsorbed depreciation and business forward losses and the CIT(A) has confirmed the order of the AO. At the time of hearing, the assessee has also produced before us a statement showing the details of unabsorbed depreciation and accumulated losses. Figures are not in consonance with each other as calculated by the AR of the assessee. Therefore, to find out the genuineness of the figures which are extracted as above, we remit this issue to the file of the AO for verification/genuineness of the figures as quoted supra in the table by the ld. AR of the assessee. If the figures are found to be correct, the AO is directed to allow the claim of the assessee u/s 115JB(2)(iii) in accordance with law after providing reasonable opportunity of being heard to the assessee. Thus, the grounds raised by the assessee on this issue in both the appeals under consideration are treated as allowed for statistical purposes.
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