TMI Blog2018 (5) TMI 1721X X X X Extracts X X X X X X X X Extracts X X X X ..... 017 - - - Dated:- 11-5-2018 - Shri R.C. Sharma, Accountant Member And Shri Ravish Sood, Judicial Member Appellant by : Shri Prakash Pandit Respondent by : Shri Suman Kumar ORDER Per R.C. Sharma, AM This is an appeal filed by the assessee against the order of the CIT(A), Aurangabad-1, dated 23.03.2017 for A.Y. 2012-13 in the matter of order passed under Section 143(3) of the Income Tax Act (hereinafter the Act ). 2. The grievance of the assessee relates to the addition made by rejecting the books of account and also disallowance of interest expenditure. 3. The brief facts of the case are that the assessee is a partnership firm carrying on the business of road asphalting, civil constructions and also derives ren ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r back to the file of the AO to verify the relevant Books of Account and for deciding the issue afresh as per law. 5. The next grievance of the assessee relates to disallowance of interest of ₹ 3,85,41,830/- being interest paid on land taken and utilised for business purposes. 6. At the outset the learned A.R. placed on record the order of the Tribunal in assessee s own case for A.Y. 2010-11 dated 28.03.2017, wherein exactly similar issue was dealt with by the Tribunal and the matter was restored back to the file of the AO. We have carefully gone through the order of the Tribunal, wherein the Tribunal had restored the matter with regard to disallowance of interest after having the following observation: - 7. We have conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . However, the learned Authorised Representative had submitted before us that all necessary and relevant documents to prove the fact that the loan was taken for development of land was submitted before the learned Commissioner (Appeals). Whereas, the learned Commissioner (Appeals) has not properly considered them. Thus, as could be seen from the aforesaid facts, the disallowance of expenditure is primarily due to lack of documentary evidences. Therefore, considering the submissions of the learned Authorised Representative that all relevant and necessary documents were available with the assessee to prove the utilisation of bank loan in development of container yard which, according to the learned Authorised Representative, were produced bef ..... X X X X Extracts X X X X X X X X Extracts X X X X
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