TMI Blog2021 (3) TMI 835X X X X Extracts X X X X X X X X Extracts X X X X ..... essee. The issues decided on merit by the Ld. CIT(A) relate to some other assessee. Because of this unfortunate situation, we set aside the order of the Ld. CIT(A) and restore the matter to him to pass a de novo order, after giving reasonable opportunity of being heard to the assessee. We direct the assessee to file the relevant documents/evidence before the Ld. CIT(A) on the date of hearing. Appeal is allowed for statistical purposes. - ITA No. 5072/MUM/2019 - - - Dated:- 19-3-2021 - SHRI SAKTIJIT DEY ( JUDICIAL MEMBER ) AND SHRI N. K. PRADHAN ( ACCOUNTANT MEMBER ) Assessee by : Ms. Radhakant Sarat, AR Revenue by : Mr. Sanjay J. Sethi, DR ORDER PER N. K. PRADHAN , A. M. This is an appeal filed by the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... diaries) without interest. During the year under consideration, the assessee had paid interest of ₹ 14,42,33,218/- to its lenders, but interest of only ₹ 7,62,12,711/- was recovered by it from the borrowing subsidiaries by transferring the same to them. Remaining interest of ₹ 6,80,20,507/- was debited by the assessee-company to its profit and loss account and claimed as expenditure. However, the AO noted that in item No. 43 of Part A-P L of the ITR, the assessee has claimed total interest at ₹ 6,86,58,949/- on this account and this fact was brought to the notice of the assessee for explanation. The AO further noticed that the assessee could file explanation only for the amount of ₹ 6,80,20,507/-. Therefore, th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... taken by the appellant is that the Ld. AO was not justified in not allowing the deduction of land cost of ₹ 47,72,896/- out of the sale proceeds of the plot for calculating the long term capital gains is merely the claim of the appellant. No material has been brought on record or enclosed with the Form 35 to corroborate the claim of the appellant and in the absence of the same it remains exactly that i.e. merely a claim. The same has no force and is rejected. 19. The second ground taken by the appellant is that the Ld. AO was not justified in not allowing the cost of improvement of ₹ 15,13,127/- out of the sale proceeds of the plot of land for calculating long term capital gains is also not maintainable that being merely ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... grounds of appeal which are not at all related to the present assessee. It is stated by him that the grounds of appeal decided by the Ld. CIT(A) probably relate to some other assessee. On the other hand, the Ld. DR submits that there was no compliance by the assessee before the Ld. CIT(A). 6. We have heard the rival submissions and perused the relevant materials on record. As per Form No. 35 dated 15.12.2017 filed by the assessee before the Ld. CIT(A), the grounds of appeal are as under : 1. On the facts and circumstances of the case and in law, the AO erred in disallowing sum of ₹ 6,86,58,949/- on account of interest paid. 2. On the facts and circumstances of the case and in law, the AO erred in disallowing a sum of & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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