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TMI Blog2018 (3) TMI 671X X X X Extracts X X X X X X X X Extracts X X X X ..... ntial relief. There is no error, therefore, in the findings. So far as the grievance with respect to CIT(A)’s permitting the assessee to file a second or fresh application – Form 10CCB, the Court holds that there is no error of law per se and that the Revenue’s contention on this score could have been aired or agitated before the ITAT. - ITA 235, 236, 237 /2018, C.M. APPL.7357-7358/2018 - - - Dated:- 26-2-2018 - S. Ravindra Bhat And A. K. Chawla, JJ. For the Appellant : None For the Respondent : Sh. Sanjay Kumar, Sh. Rahul Chaudhary, Standing Counsel ORDER 1. The question of law urged in all these appeals is whether the lower appellate authorities, especially the Income Tax Appellate Tribunal (ITAT), whose order is cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... funds, which did not carry any interest. The ITAT, by its impugned order, has reasoned inter alia as follows: 6.5 We find that the ld. CIT (Appeals) has allowed partial relief to the assessee on the claimed deduction under section 80IC of the Act by upholding the criteria of apportionment of indirect expenditure of Baddi Unit on the basis of sales turnover of Baddi Unit to the total turnover of other units etc. for the allocation of expenditure of interest on the basis of actual usages of funds for which a working was furnished by the assessee. This action of the ld. C1T (Appeals} has resulted in relief of ₹ 1,96,95,332/- towards the claimed deduction under Section 80IC of the Act. He has given relief of ₹ 38,26,826/- on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT (Appeals) has perused the debits and credits to the account of Head Office and taking them into consideration on a daily basis to find out the product, the product on which interest cost attributable to net use by funds by Baddi Unit has been computed by resident company at ₹ 34,61,811/- has been held attributable to Baddi Unit by him. The ld. CIT (Appeals) has noted further that the assessee had opening credit balance in its books of accounts to the account of Head Office of ₹ 17,57,43,596.23 from which the assessee company had deducted the investment in fixed assets out of share capital and share premium, which was derived by taking into fixed assets as appearing in the balance sheet of Baddi Unit to the total fixed asset ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lleged over-valuation of stock. The ground No. 4(a) of both the appeals are accordingly rejected, So far as other grounds on the validity of deduction under section 80IC worked out by the ld. CIT (Appeals), we set aside the orders of the authorities below to the file fo the Assessing Officer to decide the issues raised in the ground Nos. 4(b) and 4(c) of the appeals preferred by the assessee in view of our findings on an identical issue in the Departmental appeal for the assessment year 2010-11 decided above. While deciding the issue, the Assessing Officer will afford opportunity of being heard to the assessee. The ground Nos. 4(b) and 4(c) of the appeals of the assessee are accordingly allowed for statistical purposes. 7. So far as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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