TMI Blog2014 (1) TMI 1857X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal in the aforesaid case. Ground No. 3 is allowed for statistical purpose. Determination of unaccounted investments - information collected from various companies allegedly showing the share holding of the assessee - HELD THAT:- It is noted that similar issue has been decided by the Tribunal in the case of Shri Hitesh S. Mehta (supra) and the Tribunal has deleted a similar addition which have been made on the basis of information collected from various companies behind the back of the assessee. In the absence of any contradictory material brought on record by the Revenue, following the said order, we decide this ground in favour of the assessee Disallowance of deduction on account of interest expenditure claimed by the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the assessee, following the said order we direct the Ld.CIT(A) to compute the income as per books of account for the same reasons given by the Tribunal in the aforesaid case. Ground No. 3 is allowed for statistical purpose. 4. Grounds No. 4, 5, 6 relate to the determination of the total income by considering net accretion to various assets. It is observed that on the similar issue in the case of Shri Hitesh S. Mehta (supra), the Tribunal has held that since the Ld.CIT(A) is directed compute the taxable income as per books of account of the assessee in respect of ground no. 3, the additions contested on these grounds are deleted. Following the said decision of the Tribunal and taking into account of the adjudication of Ground No 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment years 2005-06 and 2006-07 in ITA No. 9158/Mum/2010. Following the said order, this issue is restored back to the file of the AO to follow the directions of the Tribunal as mentioned in para 18 of the Tribunal s order in ITA No. 8023/Mum/2011 in Hitesh S. Mehta s case for the assessment year 1991-92. Ground No. 9 is allowed for statistical purpose. 8. Ground No. 10 relates to the disallowance of deduction of other expenses claimed by the assessee in the books of account. As we have already directed the Ld.CIT(A) to compute the income as per books of account of the assessee on the expenses debited in the books of account, this will necessarily be allowed by the AO as per the findings given in ground no. 3 of this order. Gro ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
