TMI Blog2013 (3) TMI 791X X X X Extracts X X X X X X X X Extracts X X X X ..... ave been raised by the assessee: Ground no.: 1 On the facts and in the circumstances of the case and in law, the Hon ble CIT(A) erred in directing the Assessing Officer to re-compute the disallowance u/s 14A. The appellant prays that the action of the Hon ble CIT(A) in directing the AO to recalculate the expenditure incurred to earn exempt income is bad in law in view of the judicial precede ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the fact that adjustments u/s 145A were already made by the appellant and therefore CIT(A) ought to have allowed the claim of the appellant. 2. At the time of hearing, the case was called for hearing, but there was no attendance and the case was passed over. At the close of the Bench, the case was once again called for hearing, but, still there was no attendance. At this point, the DR informed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or recomputation in the preceding two years, in our considered opinion, the issue in the current year also be restored to the AO, who shall compute the disallowance on a consistent manner in the current year, as computed in the preceding year. 6. The order of the CIT(A), is therefore set aside on the issue with the above direction to the AO. 7. Ground no. 1 is allowed for statistical purpose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application of section 145A of the Income Tax Act. 13. We find that in the preceding year, the coordinate Bench in the assessee s own case has restored the issue to the file of the AO. 14. Since the issue pertains to consistency to be followed in the calculation of closing stocks in inclusive method, as prescribed by the ICAI, we deem it fit to restore the current year s calculation also to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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