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2021 (10) TMI 163 - AT - Income TaxDeduction u/s 35D - Increase of towards increase of authorized share capital - HELD THAT:- Tribunal vide order [2020 (6) TMI 240 - ITAT AHMEDABAD] allowed claim of the assessee. The ground raised by the assessee in that appeal exactly the same as that of the year under consideration A perusal of the ground and finding of the Tribunal reproduced above, where one of us (AM) is author of that order, no inconsistency was pointed out by the ld.DR in that decision so that we can take a contrary view in the case on hand. Therefore, following the judicial precedent, we allow the claim of the assessee in this year as well, and ground no.1 of the assessee’s appeal is allowed. Interest expenditure as capital expenditure - HELD THAT:- Tribunal passed in the assessee’s own case for Asstt.Year 2014-15. We find that similar claim made by the assessee in the preceding year was allowed by the Tribunal vide order [2020 (6) TMI 240 - ITAT AHMEDABAD] which was not disputed by the ld.DR - therefore following the decision of the Tribunal, we allow claim of the assessee for capitalization of interest expenditure on the money borrowed from the bank for investment in post-acquisition of shares. - Decided in favour of assessee.
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