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TMI Blog2017 (9) TMI 1398X X X X Extracts X X X X X X X X Extracts X X X X ..... count of the copies of bank statements of two accounts with Bank of Baroda, sanction letter dated 03.09.2009 of one loan of ₹ 1.9 crores were found to be illegible and because of this reason alone, the disallowance was made. The above finding is against the principles of equity, justice and good conscience and instead another opportunity should have been provided to the assessee to file copies of the evidence on record as the copies of bank statements and loan sanction letter were illegible because of poor print quality of the printer from which the clerk took the printouts. CIT(A) has failed to appreciate the evidences regarding the use of the loan taken from bank and has wrongly disallowed the amount based on assumptions and sur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pplicable to the factual matrix of the present case. 1.1 That the disallowance of interest expenses on account of the copies of bank statements of two accounts with Bank of Baroda, sanction letter dated 03.09.2009 of one loan of ₹ 1.9 crores were found to be illegible and because of this reason alone, the disallowance was made. 1 2 That the above finding is against the principles of equity, justice and good conscience and instead another opportunity should have been provided to the assessee to file copies of the evidence on record as the copies of bank statements and loan sanction letter were illegible because of poor print quality of the printer from which the clerk took the printouts. 1.3 That the opportunity to seek justic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome Tax Act, 1961 by the AO disallowing the loss of ₹ 7,42,055/- under the head Other sources and addition for low withdrawals for household expenses or ₹ 1,40,0001- failing to appreciate that when Section 14A not applicable to the factual matrix of the present case. He further stated that the disallowance of interest expenses on account of the copies of bank statements of two accounts with Bank of Baroda, sanction letter dated 03.09.2009 of one loan of ₹ 1.9 crores were found to be illegible and because of this reason alone, the disallowance was made. He further stated that the above finding is against the principles of equity, justice and good conscience and instead another opportunity should have been provided to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench to set aside the issues in dispute to the file of the Ld. CIT(A) to decide the same afresh, under the law, after giving adequate opportunity of being heard to the assessee. 5. On the contrary, Ld. DR relied upon the orders of the authorities below. 6. I have heard both the parties and perused the records, especially the orders of the authorities below. I find that Ld. CIT(A) has not given proper chance to the assessee s counsel to substantiate its case and wrongly affirmed the assessment made u/s. 143(3) of the Income Tax Act, 1961 by the AO disallowing the loss of ₹ 7,42,055/- under the head Other sources and addition for low withdrawals for household expenses or ₹ 1,40,000/- failing to appreciate that when Sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt education and such other like expenses. It was further noted that the assessee's family members Smt. Prem Lata Aggarwal and his wife Smt. Mamta Agrawal are also earning members of the family and their income is also utilised by the family for normal household expenses and Ld. CIT (A) has failed to take this fact into contemplation by not considering the documentary evidences submitted during the assessment proceedings. I note that at present the Ld. Counsel of the assessee is in a possession of all the documents/ evidences to substantiate its case before the Ld. CIT(A), which has not been considered by the Ld. CIT(A) while deciding the appeal, which is now deserve to be appreciated. Therefore, in the interest of justice, I set aside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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