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2023 (10) TMI 1129 - AT - Income TaxInterest receivable relatable to Non-Performing Assets - CIT(A) allowed the relief related to interest receivable on NPA - HELD THAT:- The issue is well adjudicated by the ld. CIT(A). The entire issue is covered by the RBI guideline in respect of accounting of policies on NPA which is duly covered by the AS-9. In our considered view, we do not intervene in the order of the ld. CIT(A). Accordingly, the ground of the revenue is dismissed. Not allowing the net claim made in ROI on account of adjustment in income and expenditure through Memorandum of Changes (MOC’s) made by the Statutory Auditors during finalisation of financial statements - CIT(A) had not adjudicated details related to claim of deduction submitted as assessee has not submitted formal application under Rule 46-A of the Income Tax Rules, 1962 for admission of additional evidence and accordingly confirmed the additions made by the ld. AO - HELD THAT:- In the interest of substantial justice and fairness to both the rival parties, as also that adjudication of this issue will require enquiries and verification of the facts, we are inclined to set aside the appellate order passed by ld. CIT(A) and restore the matter back to the file of ld. CIT(A) for fresh adjudication on merits and in accordance with law. The ld. CIT(A) is directed to pass detailed, reasoned and speaking order after making such enquiries and verifications as he may deem fit. CIT(A) shall give proper and adequate opportunity of being heard to the assessee in accordance with principles of natural justice in accordance with law, and evidence/explanations submitted by assessee in its defence shall be admitted by ld. CIT(A) in the interest of justice
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