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TMI Blog2014 (6) TMI 998X X X X Extracts X X X X X X X X Extracts X X X X ..... the FAA to that extent, we hold that provisions of section 234 of the Act are applicable. As far as calculation part is concerned, we find merits in the submission made by the assessee. Therefore, we are restoring back the issue to the file of the AO for fresh adjudication who would decide the issue after considering the amount taxed deductible at source on the income assessed and after affording a reasonable opportunity of hearing to the assessee. Ground allowed in part in favour of the assessee. - ITA No. 2146/Mum/2013 - - - Dated:- 18-6-2014 - I. P. Bansal (Judicial Member) And Rajendra (Accountant Member) For the Assessee : Dharmesh Shah For the Revenue : Dr. P. Daniel Rajendra (Accountant Member) Challenging ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act on 18. 03. 2004, determining the income of the assessee at ₹ 16. 31lakhs. During the assessment proceedings, certain additions were made by the AO and same were challenged before the First Appellate Authority(FAA). Against the order of the FAA, assessee has raised six grounds of appeal, before us, as stated earlier. During the course of hearing before us Authorised Representative did not press grounds no. 1 to 3. Therefore, first three grounds raised for the year under appeal stand dismissed as not pressed. 2. 1. Ground no. 4 is about disallowance of interest expenditure of ₹ 2, 86, 72, 678/-. Before us, AR stated that identical issue had come up for adjudication before the Tribunal in one of the group cases i. e. i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion/reliability of the books of accounts and the proposed adjudication of the Ld CIT(A) in view of the said direction may have direct impact on the issue of the impugned liability, we set aside this issue to the files of the CIT(A) to adjudicate afresh along with the adjudication of the respective ground pertaining to the rejection/reliability of the books of accounts. 5 . On the other hand, Ld DR dutifully relied on the order of the AO/CIT(A). 6 . We have heard both the parties and perused the orders of the Revenue Authorities as well as the order of the Tribunal in the case of Hitesh S. Mehta (supra). Whether the interest liabilities of ₹ 5, 14, 455/- constitutes ascertained one or not is also linked to the issue of rej ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings Pvt. Ltd. had held that the provisions of sections 234A, 234B and 234C of the Act were mandatory and were applicable to the notified entities also, that the assessee was in the process of filing an appeal against the said order before the Hon ble Supreme Court, that the income earned in the year under consideration was subjected to provisions of TDS, that the changeability of the section 234A, 234B and 234C of the Act should be after considering the amount of tax deductible at source on the income assessed. The appellant relies in this regard on the following decisions. He relied upon the cases of Motorola inc. v. DCIT [95 ITD 269 (Del. (SB)], Sedco Fores Drilling Co. Ltd. [264 ITR 320], NGC Network Asia LLC [313 ITR 187], Summit Bhata ..... X X X X Extracts X X X X X X X X Extracts X X X X
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