9911796707
TMI Blog2014 (7) TMI 956X X X X Extracts X X X X X X X X Extracts X X X X ..... cts in passing the order without complying with the principles of natural justice. 3. The learned Commissioner of Income-tax (Appeals) has erred in law and in facts in not appreciating that no income from attached assets can be assessed in the hands of the appellant. 4. The learned Commissioner of Income-Tax (Appeals) has erred in law and in facts in not granting relief of liability amounting to Rs. 86,15,970/-, towards interest expenditure claimed by the appellant. 5. The learned Commissioner of Income-tax (Appeals) has erred in law and in facts in confirming calculation of book profit u/ s. 115JB amounting to Rs. 24,76,980/-. 6. The learned Commissioner of Income-Tax (Appeals) has erred in law and in facts in confirming interest charg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ses. On appeal CIT(A) has confirmed the action of the AO by following the order for the assessment year 2007-08. 4. Before us, the ld. AR of the assessee has submitted that this issue was considered and decided by this Tribunal for the assessment year 2007-08 and set aside to the record of the CIT(A) vide order dated 24/01/2014. Ld. DR has relied upon the orders of authorities below. 5. Having considered the rival submissions as well as material available on record, we note that identical issue has been considered and decided by the co-ordinate Bench of this Tribunal in assessee's own case for assessment year 2007-08 as under :- "6. We have heard both the parties and perused the orders of the Revenue Authorities as well as the order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue authorities as well as the order of the Tribunal in the case of Hitesh S. Mehta (supra). Whether the interest liabilities of Rs. 69,68,020/- constitutes ascertained one or not is also linked to the issue of rejection of books of accounts as the books of account is the basis for computation of book profits u/s 115JA of the Act. This is common issue qua the issue adjudicated in the case of the Hitesh S. Mehta (supra) and matter was set aside. Respectfully following the said order of the Tribunal, we are of the considered opinion that the issue raised in ground no.3 should be set aside to the files of the CIT (A) for fresh adjudication of the issue after granting a reasonable opportunity of being heard to the assessee. The decision if any s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial on record we note that for the assessment year 2007-08 identical issue has been considered by the Tribunal in para-10 as under :- "10. The above grounds raised by the Revenue are relating to the solitary legal issue of chargeability of interest u/s. 234A, 234B and 234C of the Income tax Act, 1961 and the applicability of the said provisions to the notified persons. While adjudicating the assessees' appeals, in the above paragraphs of this order we have set aside the issue relating to the deduction of interest expenditure, to the files of the CIT (A) and directed the CIT (A) to adjudicate the matter afresh. In view of the directions given in the assessees' appeals, the liability of the assessees u/s 234A, 234B and 234Csquarely d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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