TMI Blog2013 (12) TMI 638X X X X Extracts X X X X X X X X Extracts X X X X ..... oduced before AO - The CIT(A) deleted the disallowance without giving an opportunity of being heard to the AO - The issue set aside for fresh adjudication. - ITA No.7815/Mum/2011 - - - Dated:- 4-2-2013 - Shri B. R. Mittal And Shri N. K. Billaiya,JJ. For the Appellant : Shri Rajarshi Dwivedy For the Respondent : Shri Ambrish Mehta ORDER Per B.R.Mittal, JM:- The department has fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sions of Rule 46A of the I.T.Rules, 1962." 2. Briefly stated the relevant material facts are that the assessee is a partnership firm engaged in the business of trading in ferrous and non ferrous metals. During the course of assessment proceedings, on perusal of balance sheet, the AO noticed that assessee has borrowed Rs.2.45 crores during the year under consideration for working capital requirem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IT(A). 3. Before ld CIT(A), assessee filed the relevant ledger extracts and explained that no interest disallowance is called for in view of the fact that the interest received from M/s. PEL is more than the interest paid. Assessee also furnished the cash flow for investment in equity shares and share application money of M/s. PEL. Ld CIT(A) considered the ledger extracts furnished by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onal evidence without giving opportunity to and/or seeking remand report from the Assessing Officer. He submitted that there is violation of Rule 46A of I.T.Rules, 1962 and , therefore, the matter be restored to the file of the AO. On the other hand, ld counsel for the assessee fairly conceded that some of the additional evidences were produced before ld CIT(A) which have been considered while del ..... X X X X Extracts X X X X X X X X Extracts X X X X
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