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TMI Blog2015 (2) TMI 1403X X X X Extracts X X X X X X X X Extracts X X X X ..... directed against order passed by Ld. CIT(A)-40, Mumbai dated 28/02/2011 for assessment year 2005-06. ITA No.8349/Mum/2010 and 8480/Mum/2010 are cross appeals and are directed against order passed by Ld. CIT(A)-40, Mumbai dated 10/09/2010 for assessment year 2007-08. 2. Grounds of appeal in all the assessee's appeals are common and these appeals were also argued together by both the parties. It may be mentioned here that the additional grounds filed by the assessee in each of its appeal was not pressed by Ld. AR. Ld. AR also did not press several other grounds which fact is endorsed on the grounds of appeal as "not pressed". Therefore, the additional grounds filed by the assessee for all the years and other grounds which are marked as not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8: "5. The learned Commissioner of Income-tax (Appeals) has erred in law and in facts in not granting relief of liability amounting to Rs.74,95,209/- towards interest expenditure claimed by the appellant. 6. 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.74,95,209/-" Grounds of Revenue's Appeal in ITA No.8349/Mum/2010,A.Y.2007-08: "1) On the facts and circumstances of the case and in Law, the Ld.CIT(A) erred in holding that the assessee being a notified person under the Special Court (Trial of Offences relating to Transactions in Securities) Act 1992 is not liable to pay interest uls.234A, 234B and 234C of the I.T.Act, 1961, ignori ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... isions of Tribunal in assessee's own case: (1) Assessee's own case in ITA No.1035/Mum/2013, A.Y.2002-03 order dated 08/10/2014. (2) Assessee's own case in ITA No.363/Mum/2013, A.Y. 2008-09 order dated 07/10/2014. (3) In the case of Smt.Rasila Mehta in ITA Nos. 3683 & 3684/Mum/2011 for a.Y 2000-01 and 2001-02 order dated 28/11/2014. Copy of all these orders have been placed in the paper book. 4. For the sake of completeness the relevant observation of Tribunal in the own case of assessee in respect of assessment years 2002-03, 2009-10 and 2010-11 vide order dated 8/10/2014 are reproduced below: "4. Ground no. 4 pertains to not granting relief of liability amounting to Rs. 52,01,922/- (A.Y. 2002-03), Rs.1,08,03,167/-(A.Y. 2009-10) a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he file of the Id. CIT(A) for fresh adjudication. Needles to mention here that due opportunity of being heard be provided to the assessee with further liberty to furnish evidence, if any, in support of its claim. Thus, this ground of the assessee is also allowed for statistical purposes only." 4.1 Accordingly, after hearing both the parties, respectfully following the aforementioned decision of the Tribunal in assessee's own case we restore this ground for all the years to the file of AO with similar directions and this ground for all the years is considered to be allowed for statistical purposes. 5. Another issue raised in the appeals filed by the assessee is regarding calculation of book profit under section 115JB. This ground was also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st u/s 234A, 234B and 234C is concerned the id. Counsel for the assessee contended that it may be sent to the file of the Ld. Assessing officer. However, the Ld. Special counsel contended that the levy of interest is mandatory therefore it should be decided against the assessee. However the Ld. Counsel for the assessee contended that it may be sent to the Assessing Officer for actual calculation purposes only. Agreed, levy of interest is mandatory and sometimes consequential depending upon the facts of each case. We note that identical issue arose before the Tribunal in the aforesaid cases therefore following the reasoning contained therein we direct the Assessing Officer to recomputed the interest liability after reducing the amount of tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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